IBM’s Watson Sells Blockchenized Insurance Contracts

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IBM’s artificial intelligence framework, Watson, is now selling insurance contracts that are integrated with a blockchain network. “The opportunities that come with AI on cloud and blockchain technologies allow companies from the insurance and InsurTech sectors to digitize and improve their current processes, and we are confident our solutions will jumpstart this transformation,” VAIOT’s CEO Christoph Surgowt said in a statement. VAIOT recently raised $5.9 million to bring together artificial intelligence and blockchain tech for insurance contracts. Watson handles the initial process by voice or text on an app, asking key questions like what insurance they are interested in and how much they are looking to pay. Watson then provides different options for the customer to pick, with the contract then signed. The contract then is stored on the blockchain with “intelligent contracts” used which apparently allow for the whole process to be automated without human involvement. In this case…

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