Chinese insurers complete blockchain trial

Nine Chinese insurers have completed a blockchain trial aimed at resolving credit problems and account settlements between each other, Asia Insurance Review reported citing Yicai.com. The trial covered functions, capabilities, safety, as well as operations and maintenance. The goal is for the system to handle premiums, commissions and claims, to achieve automatic reconciliation. The insurers included China Continent Property & Casualty Insurance Co. Ltd., Starr Property & Casualty Insurance (China) Co. Ltd. and Taiping Property & Casualty Insurance Co. Ltd.

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