Blockchain insurance is another form of insurance model that comes after traditional insurance, mobile insurance, and medical insurance. It makes full use of the decentralized and secure characteristics of blockchain to effectively provide exemplary service and strict risk-control measures.

The blockchain insurance platform can realize secure data circulation, quickly integrate, analyze, and review the information of policyholders, and realize the automation of claims settlement through smart contract technology, thereby empowering the insurance industry with the use of blockchain technology. For example, through the establishment of alliance chains, data can be shared easily amongst medical institutions, insurance companies and other related organizations.

Should the user authorize it, insurance companies can obtain their health data, understand their health conditions, and use smart contract technology to intelligently analyze the risks of underwriting, shorten the insurance review process, and direct the insurance company to automatically make claims. This would make the entire claims process much more efficient.

The emergence of the BIG insurance platform marks the first time that blockchain technology has been applied to the insurance sector, marking the leap from “concept” to “application”. 

The BIG insurance platform has incorporated new technology as its core, and has transformed the traditional insurance process mechanism - digitizing insurance products and processes to improve efficiency and productivity. On the BIG insurance platform, policyholders, platform managers, third-party actuaries, and users will interact organically under transparent rules to empower the insurance industry together.

The applications within the BIG insurance platform can provide third-party insurance companies with services including product research and development, identity verification of policyholders, sales and underwriting, claims, accounting and policy discounting, etc., in order to respond to the ever-changing insurance needs. Compared with traditional insurance architecture, the combination of blockchain and artificial intelligence, big data, and the Internet of Things has irreplaceable advantages in the insurance industry. At the same time, the BIG insurance platform can also create a P2P mutual insurance community or a complete IoT insurance ecosystem.

The BIG global block insurance platform will build a decentralized insurance management platform and trading marketplace based on Graphene blockchain, and will ensure its efficient operation through a series of economic mechanisms. It will also lower the barriers to entry, provide the highest liquidity and the most accurate insurance pricing, and strive to become the underlying infrastructure of the insurance industry.

Should the customer give their authorization, they can then query their medical information such as inspection report, cost details, etc. after encryption and verification, and the insurance company can also learn the customer's medical situation in real time, and realize the whole process of claim settlement without any documentation, giving the customer a better service experience.

The BIG platform is taking the first step to explore innovative applications of blockchain, and the team recognizes that blockchain is an important part of the future. The BIG insurance platform will continue to expand its application areas, and comprehensively build a global health service platform that is online, in-depth, and one that truly realizes the digital transformation of the insurance industry.