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Telecom Giant Thinks Blockchain Can Make Phone Insurance More Convenient

Telecom Giant Thinks Blockchain Can Make Phone Insurance More Convenient

South Korean telecommunications agency, SK Telecom, introduced a blockchain-based doc submission course of for cell phone insurance coverage. This new protocol will dispose of the corporate’s present antiquated paper processing strategies.

Prior to now, customers needed to go to a technical restore workplace to obtain insurance coverage advantages for broken telephones, in accordance with Itbiznews. Profitable visits would conclude with a declare receipt, which they then needed to ahead through e mail or fax to the insurance coverage firm.

Cooperation with Samsung

SK Telecom’ new system will permit the telecom big’s prospects to skip this outdated course of, and full the whole lot on-line rapidly and securely.

The announcement states that changing paperwork with digital certificates will assist the corporate to securely handle inquiries despatched to insurance coverage corporations. Additionally they hope that this new methodology will assist to forestall doc forgery.

Saving cash with the blockchain adoption

SK Telecom expects cell phone service facilities and insurance coverage corporations to chop prices and enhance processing velocity, permitting them to resolve buyer complaints in a well timed method.

The corporate states that Samsung’s Galaxy collection would be the first cellphone suitable with the brand new service.

Kim Seong-soo, SK Telecom’s gross sales supervisor, expressed that the adoption of Blockchain know-how will develop to “varied service areas sooner or later.”

On Could 26, Samsung introduced a standalone turnkey safety resolution that secures cryptocurrency transactions on smartphones and tablets.

Cointelegraph beforehand reported that South Korea’s NongHyup (NH) Financial institution will introduce a blockchain-based cellular ID system, developed by a tech consortium of companies resembling Samsung Electronics and LG Uplus.

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