
AXA Is Using Ethereum's Blockchain for a New Flight Insurance Product - mgalka
https://www.coindesk.com/axa-using-ethereums-blockchain-new-flight-insurance-product/
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caf
How exactly does the information on whether the flight was delayed or not
become available to the executing smart contract?

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dcw303
_> It maintains an accessible record of the insurance contract itself within a
smart contract_

And why would I want details of my insurance contract on a publicly visible
blockchain? What am I missing here?

edit, to elaborate: A currency ledger blockchain _has_ to be visible to all
participants, that's how we can all come to an agreement on who owns what.
What I don't get is why my insurance contract has to be visible by any parties
other than me and the insurer. Hence, what value does putting this data on a
blockchain bring?

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rficcaglia
accessible/visible could mean the details of the contract encrypted (or more
likely crypto hashed), not publicly readable as plaintext

later if some authority needs to validate/litigate, it would be easy to
decrypt the pertinent data with the key or by comparing hashes

that said, simply letting the world know that you did enter into a contract -
regardless of the details - is leakage of privacy so buyer beware

EDIT: elaborating in response to the above edit...on their FAQ they say they
use blockchain to speed the process - instant gratification and automatic
payment. i am sure this is merely a marketing PoC to gague consumer comfort
levels with blockchain apps. and buzz, which it is obviously getting here. but
long term, think about the cost savings if you automate claims processes. in
Florida and Houston right now they cannot find enough insurance adjustors to
process claims for victims. in 5 years you can likely use a fancy AR+AI mobile
app to do self-inspection, which would trigger a smart contract for payment of
the claim. feel free to apply to YC with that :)

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yoloswagins
Crypto currency novice here. Would it be possible to see how many policies
they sell, and how many they payout?

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powmedia
What are the advantages of having this service run on a blockchain? There is
nothing stopping a company from providing a similar service with a traditional
server setup, right?

Is it simply that the contract is visible to others to validate it took place?

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batbomb
Ironic considering how ancient their IT is.

My friend was an advisor and they are solidly in the 2005 era as far as
security and maintenance goes.

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ikeboy
They somehow managed to get a gTLD
[https://icannwiki.org/.axa](https://icannwiki.org/.axa)

