ICO Today Magazine News
Global fraud is reaching epidemic levels with an annual economic price tag of more than £3.2 trillion. The UK economy alone loses more £110bn to Fraudsters each year. Fraud professionals are urging organizations to focus more of their resources on fraud prevention, estimating that doing so could add an astounding £44 billion annually to the UK economy.
Kuverit’s innovative mainstream solution will combine peer to peer guarantee trading, designed to eradicate peer to peer fraud, with the world’s first “fully independent” appified blockchain insurance company, designed to protect everything for everyone, everywhere.
Research shows that 37% of insurance customers would prefer using smart technology rather than speaking to an agent. Personal experience, automation and appification is what will gain consumer confidence moving forward. Daily life is demanding enough, we live in the age of the smartphone where consumers demand speed and efficiency.
Kuverit’s Smart Insurance application will harness blockchain to power instant its payments and decentralized claims processing system. Kuverit will increase choice, meet consumer expectations and most importantly build a friction-less, modern insurance application.