Kenya Re eyes block chain technology to curb fraud

Block chain technology is an automated process that is a cryptographically secured form of record-keeping, which makes verification of data easier. According to surveys recently released by McKinsey, automation can reduce the cost of fraudulent claims by as much as 30 per cent. The company seeks to expand into other countries as it eyes to cover more insurers against risks. “Expansion to different markets and tapping into different segments is instrumental in unlocking the potential and overall business. To give more of a local context, Kenya Re has diversified its…

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