What’s the buzz about blockchain in insurance?

Bundeep Singh Rangar, CEO of PremFina – the UK’s most innovative premium finance company – talks to Insurance Business about blockchain, how it will revolutionse the insurance industry, and how PremFina plans to implement it into its existing premium finance solution.

Excerpt:

According to Rangar, PremFina embraces technologies that make insurance business processes more efficient.

“Insurance financing can be sold via tokens, which represent fractional ownership of the risk-adjusted financial return attached to credit agreements. Blockchain can make the process of issuing credit agreements, collection of monthly instalments and financing of such premium financing loans more efficient. It can make premium finance a more widely used product in the UK and elsewhere.”

Read the full article on Insurance Business

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