Val Yap, founder of Singapore-based PAL Network, is one of the insurance technology (insurtech) players trying to bring this innovation to Asia. In 2017, she set up PAL Network to serve insurers using blockchain to automate policy inception, distribution and claims processing. The process often takes weeks.”This issue can be addressed using blockchain technology, which acts as a ledger for transactions. All these are connected through our blockchain technology.”That idea was implemented in a flight delay insurance coverage PolicyPal and Ergo using PAL Network’s blockchain technology. “PolicyPal will be using the blockchain technology built PAL Network to work with insurance partners in Southeast Asia.

Source: The Edge Markets April 23, 2019 06:56 UTC