Application of Blockchain in Travel Inconvenience Insurance Claim Settlements over Airline Strikes

In February 2019, the strike organized by China Airlines pilots resulted in more than 60 canceled flights, affecting more than 30,000 passengers. A blockchain-based solution that can integrate flight information has been applied to automate travel inconvenience insurance processes and reduce claim settlement time by simplifying insurance application and claim settlement processes. Once specified conditions are met, the solution will send a claim notification to the insured automatically and the compensation will be paid into the insured’s designated account through the solution’s autonomous claim payout system. The insured no longer needs to request documentation of proof from the airline in case of flight delays. The streamlined and automated insurance process will reduce the operational cost of the insurer, encourage passengers to buy travel insurance policies, and increase business opportunities for travel insurance companies, or insurers.

1. Flights Cancelation Over Strike Action Brings New Opportunities

2. Developmnet of Blockchain in Travel Inconvenience Insurance

2.1 Blockchain Technology Speeds up Travel Inconvenience Insurance Process

2.2 Advantages of Blockchain Platform Adoption

2.3 Application of Blockchain Technology in Taiwan’s Travel Inconvenience Insurance

3.Opportunities and Challenges of Blockchain in Insurance

3.1 Blockchain-powered Travel Insurance Packages Only Differs in Amount of Compensation based on Delay Time

3.2 Blockchain Will be Applied to Other Types of Insurance

3.3 Trusted Data Sources Key to Widespread Adoption

MIC Perspective

Appendix

Glossary of Terms

List of Companies

List of Tables

Table 1: Travel Inconvenience Insurance Package of Eight Major Insurers in Taiwan

List of Figures

Figure 1 Process Flow for Existing Travel Inconvenience Insurance

Figure 2 Comparison of Traditional and Blockchain-based Travel Inconvenience Insurance Process Flows

Figure 3 Advantages of Applying Blockchain to Travel Inconvenience Insurance

Fill The Form For Sample Request

Full Name*

Business Email *

E-mail

Country *

Select Country Albania Algeria Afghanistan Angola Argentina Armenia Aruba Australia Austria Azerbaijan Andorra Anguilla Bahrain Bangladesh Barbados Belarus Belgium Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Brazil Brunei Bulgaria Burkina Faso Burundi Bosnia Cambodia Cameroon Central African Republic Chad Chile China Colombia Comoros Congo (Brazzaville) Cook Islands Costa Rica Cote d Ivoire Croatia Cuba Cyprus Czech Republic Cayman Islands Denmark Djibouti Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Fiji Finland France Gabon Gambia Georgia Germany Ghana Gibraltar Greece Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Herzegovina Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kuwait Korea Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Lithuania Luxembourg Liechtenstein Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Mauritania Mauritius Mexico Moldova Monaco Mongolia Montenegro Morocco Mozambique Myanmar Middle East & North Africa (MENA) Namibia Nauru Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria North Korea Norway Oman Pakistan Palau Palestinian Territories Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Palestine Qatar Romania Russia Rwanda Samoa Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Korea Spain Sri Lanka Saint Kitts and Nevis Saint Vincent and the Grenadines Sudan Suriname Swaziland Sweden Switzerland Syria Scotland San Marino Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates United Kingdom United States of America Uruguay Uzbekistan Uraguay Vanuatu Venezuela Vietnam Virgin Islands Yemen Zambia Zimbabwe Canada Grenada Cape Verde Belize Curacao Republic of Srpska Antigua and Barbuda Saint Lucia Falkland Islands Faroe Islands Federated States of Micronesia Guadeloupe Martinique Montserrat Niue

Contact No *

Alternate No

Note : * Kindly provide us with your company id and get the sample reports at the earliest.

There is no Reviews available