Blockchain Insurance Policy In Puerto Rico Pays Out Claims Based On Wind Speeds

Months post-Hurricane Maria, life on Puerto Rico still hasn’t returned to normal with parts of the island lacking power, and water systems that have not yet been restored. The storm exposed the limitations of the insurance sector on the island as many insureds experienced delays in the claims process, which has left room for a new blockchain-powered solution to enter the market. “The customer experience of people who were insured and who are insured with traditional policies is extremely negative. Many people who submitted a claim still did not get paid."