Swiss insurance platform Etherisc has become the latest firm to offer blockchain-based flight delay insurance. The offering pays out automatically in the case of a delayed flight, and has been launched in partnership with Malta-based Atlas Insurance. Blockchain is an open ledger that records transactions between parties without relying on any central authority. The launch follows a similar product introduced by French insurer Axa earlier this year.
Swiss insurance platform Etherisc has become the latest firm to offer blockchain-based flight delay insurance. The offering pays out automatically in the case of a delayed flight, and has been launched in partnership with Malta-based Atlas Insurance. It will be facilitated using an ethereum smart contract. The launch follows a similar product introduced by French insurer Axa earlier this year.