Integrated Startup ComplexKalamassery, Ernakulam
Decemeber 10 - 11, 201910:00 AM – 10:00 AM (24hrs)
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Kerala Blockchain Academy in association with Allianz Technology, India and Kerala Startup Mission is conducting a 24 hour live hackathon BlockHack2019 on December 10th -11th, 2019 at Integrated Startup Complex (ISC), Kerala Technology Innovation Zone, Kalamassery, Kochi. This Hackathon is part of BlockHashLive 2019 - the annual Kerala Blockchain Summit, organized by Kerala Blockchain Academy to be held on December 12-13 2019 at Kochi. There will be an initial short listing of teams based on the problem description. The theme of this Hackathon is Blockchain in Insurance. The judgement will be delivered by a panel of experts in the domain of Blockchain and Insurance.
In the case of International captive insurance programs managed by Insurance companies, clients operate on a global scale with different geographies, dealing with their local banks, currencies. Let’s say, To take part in such an insurance program, the client “Awesome Company” has set up their own Captive Insurance company with headquarter in Germany and the insurance policy is expected to be renewed with an annual premium of EUR100m. Afterwards, the headquarter is required to collect the premium portions from all the local offices all over the world. This process is extremely human-intensive as it involves cross-border payment, different banks, time zones, languages. How can we leverage Blockchain / DLT to facilitate this global money movement to improve process transparency, data accuracy and data currency?