By David Althoff, Senior Vice President, Insurance, Cognizant
Insurers likely will introduce IoT-based connected life offerings in phases. Understanding customer expectations, developing a plan and attacking in reasonable, time-sensitive chunks will separate the winners from the rest of the pack. Early adoption is key.
Blockchain allows a decentralized network of computers to use consensus algorithms and cryptography to validate transactions and record them in a chronological order, thereby creating a distributed immutable chain or ledger.
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