Ingosstrakh implemented technology for cargo insurance based on a blockchain

On June 6, 2019 it became known that Ingosstrakh implemented technology which allows to insure loads in real time. At the same time a system itself selects the necessary data and in the automatic mode creates the policy since the moment when the load is accepted for shipment. It occurs thanks to smart contracts — algorithms which analyze an information stream from carrier and control the obligations of the parties put in a system.

The project is implemented based on the Tsunami system which developer is the Innoseti IT company. A system represents the uniform platform for all participants of process of insurance and works with use of such technologies as a blockchain and neural networks. Integration of the IT-system led to the fact that now practically all processes on cargo insurance and settlement of losses are made automatically using the electronic digital signature. In a system there is no administrator who could change data at discretion. Copies of the database are distributed on different devices, but all information at the same time remains synchronized. For this reason a system cannot be cracked or in it to change something — it is stored at the same time at all participants of transactions. It raises the security level and securities of a system.

We pay very much attention to an information technology sphere as regarding creation of the innovation services for our clients, and by permanent optimization of internal processes. The implemented technology brought process of cargo insurance and settlement of losses to absolutely other level. For us, in addition to the appeared opportunities of customer service, this project significant in terms of cross-functional interaction. Many solutions which we managed to implement, special. In our further plans – broad promotion of this service on the market and involvement of transport companies to work on the platform, comments Mikhail Volkov, the CEO of Ingosstrakh company

Though the project only started, there is already a first client working with Ingosstrakh on this platform – Business Lines group. This is one of operators of transport logistics services of Russia executing transportation of goods for 3.5 million companies and individuals.