IBM is hoping to get regulatory approval to deploy blockchain technology for a consortium of general insurance companies in India. This comes after a successful pilot test that was designed to facilitate easy transfer of medical records between insurance companies. According to Jitan Chandanani, partner blockchain leader for India at IBM ISA, the case for the use of blockchain is now in place is for insurance companies to share medical records effortlessly, and cut duplication of records across the board. IBM is the technology partner of Cateina Technologies, which is the technology provider to the consortium of 15 insurance firms in India that are trying to bring blockchain into use across the insurance system.
congress is looking to see if a blockchain project aimed at insurance companies , developed in partnership with Amritsar - based Cateina Technologies , will be granted regulatory approval in India . The companies successfully implemented a system in which blockchain technology enables insurance companies to easily share medical records , while also reducing instances of duplication .