Policybazaar.com partners with Accrivis to enable data integration using blockchain

Policybazaar.com has partnered with Accrivis Network Pvt. Ltd., a data integration platform provider, to implement blockchain solutions to enhance customer centricity through data security and application integration for making the purchase of insurance a seamless affair.By integrating this technology, Policybazaar.com is looking to detect and minimise the rampant frauds that are on-going in the insurance ecosystem affecting both the business and the consumer.At the moment, Indian insurance industry loses USD 6.25 billion or nearly 10% of its revenue attributed to various frauds, of which 86% are attributed to Life insurance sector, which is more than six times of general insurance segment that witnesses frauds to the tune of 14%."We are a technology driven entity and are always keen on integrating emerging technologies that simplify the process of selling and buying insurance in a secured manner. In addition to allaying security issues of consumers using online channels, blockchain ..

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