Telecom Big Thinks Blockchain Can Make Telephone Insurance coverage Extra Handy

South Korean telecommunications agency, SK Telecom, introduced a blockchain-based doc submission course of for cell phone insurance coverage. This new protocol will eliminate the corporate’s present antiquated paper processing strategies.

Prior to now, customers needed to go to a technical restore workplace to receive insurance coverage advantages for broken telephones, in line with Itbiznews. Profitable visits would conclude with a declare receipt, which they then needed to ahead through electronic mail or fax to the insurance coverage firm.

Cooperation with Samsung

SK Telecom’ new system will permit the telecom big’s prospects to skip this outdated course of, and full the whole lot on-line shortly and securely.

The announcement states that changing paperwork with digital certificates will assist the corporate to soundly handle inquiries despatched to insurance coverage firms. In addition they hope that this new methodology will assist to forestall doc forgery.

Saving cash with the blockchain adoption

SK Telecom expects cell phone service facilities and insurance coverage firms to chop prices and enhance processing pace, permitting them to resolve buyer complaints in a well timed method.

The corporate states that Samsung’s Galaxy sequence would be the first cellphone suitable with the brand new service.

Kim Seong-soo, SK Telecom’s gross sales supervisor, expressed that the adoption of Blockchain know-how will increase to “numerous service areas sooner or later.”

On Might 26, Samsung announced a standalone turnkey safety answer that secures cryptocurrency transactions on smartphones and tablets.

Cointelegraph beforehand reported that South Korea’s NongHyup (NH) Financial institution will introduce a blockchain-based cellular ID system, developed by a tech consortium of companies similar to Samsung Electronics and LG Uplus.

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