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The Piprate Solution

The insurance industry has fundamental data sharing problems

Insurance is a US$5 trillion industry. Data sharing is key to writing business, but is fraught with challenges: it’s inefficient, expensive, insecure, and fundamentally lacking in trust in the veracity of the data.

Current data sharing practices in the insurance industry are stuck in the dark ages. While the current mix of spreadsheets, email and faxes does get the job done, it’s hardly cutting edge. And more importantly, it’s incredibly inefficient.

Files are sent and received multiple times, to multiple parties. With low levels of trust and transparency around data, each party processes it independently, creating unnecessary duplication of effort.

And each time the data is transmitted or handled, it increases the risk of data breaches, and creates additional complexity for legal and regulatory compliance efforts.

These inefficiencies cost companies in the insurance industry precious time and effort, which translates to significantly increased operational costs.

The insurance industry needs a way to bring trust, accountability and transparency to data sharing

Piprate solves the insurance industry’s data sharing problems

Piprate’s blockchain-backed data wallets offer a more secure and efficient means of sharing data amongst actors in the insurance industry, simultaneously creating trust and transparency.

  • Establish trust and transparency in data to support better decision-making: Know and trust where the data comes from, and how it has been altered.

  • Create business efficiencies by streamlining core processes: Share data with multiple parties simultaneously, while minimising data processing requirements.

  • Enhance data security and compliance: Establish and retain data ownership and access control, limit cybersecurity risk, and support regulatory compliance efforts.

  • Integrate seamlessly, scale effortlessly: Integrate with any data system via a data-agnostic API, while scaling to meet growing demand.

  • Gain competitive advantage: Implement cutting edge insurance technology and blockchain while solving real-world problems.

Learn more about Piprate’s features

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