Wang Min, Executive Deputy General Manager of Zhong An Insurance: Blockchain and 5G will bring more space for the development of Internet insurance

Babbitt News, October 31, at the 2019 China Financial Technology Industry Summit, Wang Min, executive deputy general manager of Zhong An Insurance, said that the blockchain is the channel and 5G is the speed, which will bring the development of Internet insurance. More space. The support of the 5G network will reduce network delay and increase transmission capacity, making the blockchain network more efficient. Based on this, the trust foundation of the insurance industry information flow can be constructed, and low-cost, friction-free insurance transactions can be realized. He also pointed out that "insurance data is mostly private data with high privacy, involving consumers, intermediaries, insurers, reinsurers and other aspects. There may be data loss, misunderstanding of policy content, and extended policy processing time in each link. And other issues. Relying on blockchain technology, the authenticity of multi-dimensional source data on the 'chain' is guaranteed, the unchangeable nature of the 'chain' and the distributed architecture enhance the confidentiality of data, and also for insurance products and services. The provider brings more accurate raw data, and the law of large numbers has more data to precipitate."