Authentication System has worked with the blockchain-based company CryptoBLK to create a system which prevents motor insurance fraud by using the technology. The organisations have joined forces to establish the Motor Insurance DLT-based The Hong Kong Federation of Insurers, which allows insurance documents to be verified more easily and prevents the use of fakes by providing a detailed record of their existence. The system, which doesn't store any personal information so as to protect users' identities, has passed multiple independent security audits.
The Hong Kong Federation of Insurers has worked with the blockchain-based company CryptoBLK to create a system which prevents motor insurance fraud by using the technology. The organisations have joined forces to establish the Motor Insurance DLT-based Authentication System, which allows insurance documents to be verified more easily and prevents the use of fakes by providing a detailed record of their existence. The system, which doesn't store any personal information so as to protect users' identities, has passed multiple independent security audits.