Telecom Giant Thinks Blockchain Can Make Phone Insurance More Convenient

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

Before now, customers needed to go to a technical restore workplace to obtain insurance coverage advantages for broken telephones, in line with Itbiznews. Successful visits would conclude with a declare receipt, which they then needed to ahead by way of e mail or fax to the insurance coverage firm.

Cooperation with Samsung

SK Telecom’ new system will enable the telecom large’s prospects to skip this outdated course of, and full the whole lot on-line rapidly and securely.

The announcement states that changing paperwork with digital certificates will assist the corporate to securely handle inquiries despatched to insurance coverage corporations. They additionally 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 corporations to chop prices and enhance processing velocity, permitting them to resolve buyer complaints in a well timed method.

The firm states that Samsung’s Galaxy sequence would be the first telephone appropriate with the brand new service.

Kim Seong-soo, SK Telecom’s gross sales supervisor, expressed that the adoption of Blockchain know-how will develop to “various service areas in the future.”

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

Cointelegraph beforehand reported that South Korea’s NongHyup (NH) Bank will introduce a blockchain-based cell ID system, developed by a tech consortium of corporations corresponding to Samsung Electronics and LG Uplus.

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