China Construction Bank partners with IBM on blockchain-powered bancassurance

Current bancassurance arrangement, where a bank and an insurance company form a distribution partnership, can be disrupted by data transmission delays or incomplete information.

However, partnering with IBM enables CCB Asia and all parties on the blockchain to obtain a shared view of required policy data in real-time. Processing time is reduced as the need for status-checks is eliminated and accountability and transparency are achieved. This enables CCB Asia and its partner insurers to deliver services more efficiently.