Standard Bank looks to blockchain tech for insurance claimsitt

Big four bank Standard Bank is experimenting with blockchain technology for processing motor vehicle claims.

So says Deepesh Thomas, digital head at Standard Bank Wealth, in an e-mail interview with ITWeb.

This as the big four bank is aggressively pursuing the digital insurance space, which has been shaken up by the emerging insurtech start-up companies.

South Africa’s big four banks recently upped the ante in launching online insurance products amid the COVID-19 pandemic.