South Korea’s KB Insurance To Deliver Client Messages Using Blockchain Platform
KB Insurance, one of the top South Korean insurers, intends to establish a blockchain powered mobile message delivery system for its customers.
As per a news release by Ledger Insights, beginning next month, KB will begin using the platform co-developed with domestic telecom company KT Corp.
The facility will initially remit payment and cancellation notices to auto insurance clients, but the insurer intends to extend the service to all of its clients. The objective is to slash mailing expenses and avoid non-delivery of vital messages.
The latest message delivery system, powered by blockchain, will inform changes in insurance policy guidelines or notification about pending payments and guarantee that the customer receives the info.
Message transmitted via the system will go through a blockchain certification system owned by the Korea Internet & Security Agency.
The blockchain logging procedure provides legal validity to the message delivery system and enables the insurer to substantiate that the message reached the client.
Only those users who have opted-in for the service will be sent the notifications.
Most importantly, notifications can be received even if users change their address and mobile number. The facility is offered only for SK, KT Telecom and LG U+ mobile service customers.
Blockchain technology based application often hogs the limelight. Of late, a Japanese blockchain company revealed a mobile app for voting by shareholders.
Likewise, Microsoft has unveiled the beta variant of its decentralized identity solution on Bitcoin’s (BTC) blockchain.