Meritz Innovates Travel Insurance with Blockchain Technology
Blockchain-Powered Travel Insurance Service Launched by Meritz
Meritz Fire & Marine Insurance has partnered with a blockchain technology company to enhance customer convenience for those purchasing travel insurance ahead of the summer vacation season.
On August 2nd, Meritz Fire & Marine Insurance (CEO Kim Joong-hyun) announced that it has signed an Open API partnership agreement with ReTrust, a blockchain solutions and consulting company, at Meritz Tower in Gangnam, Seoul.
Through this agreement, Meritz Fire & Marine Insurance will open its API, allowing partner companies to automate the entire process of insurance enrollment, policy management, and claims submission via their own applications and websites.
As a result, customers will be able to purchase and manage their travel insurance in real-time through platforms such as travel agencies and airlines.
Previously, there were issues with the lack of seamless data integration between Meritz and its partners, which made real-time policy management and claims submission challenging.
However, this partnership is expected to significantly improve these processes. Meritz Fire & Marine Insurance plans to expand its API sharing and system integration with more partners to further enhance customer convenience.
As part of this collaboration, customers will be able to quickly enroll in Meritz travel insurance using the “InsureTrust” platform provided by ReTrust, simply by entering their travel details and companion information.
In the event of an accident during their trip, customers can access their insurance certificate through the KakaoTalk digital asset wallet, “Klip,” and manage their claims.
Additionally, the insurance certificate will be issued as an NFT, which can be used as a unique digital keepsake to share memories with family and friends after the trip.
Lee Bum-jin, Vice President of Meritz Fire & Marine Insurance, stated, “This Open API partnership is expected to greatly improve the efficiency of travel insurance operations for our partners, and it will also provide customers with a faster and more convenient experience from policy enrollment to claims submission.”
Jang Woo-seok, CEO of ReTrust, added, “Through this collaboration, we aim to offer customers greater convenience and benefits through blockchain technology.”
Editor 비트마스터
Provided by: Meritz
