Atos recognized for its blockchain expertise in insurance with NATC Awards 2019

Atos announces that its Blockchain based Crop Insurance Solution has won the prestigious NATC (NASSCOM* Annual Technology Conference) Awards 2019, as one of the winners among the 100+ nominations received from global companies. Atos entered this year’s 2019 NASSCOM Annual Tech Conference on “Industrialization of Disruptive Technologies” to submit its solution.

The Atos solution uses smart contract functionality and mobile payment to establish trust between the insurance companies and the farmers, helping them get access to financial products crucial for their survival.

Insurance companies can use the application to collate weather data through satellites and measure weather conditions (rainfall, drought, etc.) which are then used to compensate farmers for crop losses.

This solution helps insurance companies create a cost-effective and fully automated claim settlement process, which also strengthens the trust between the two entities. Initially, the crop insurance solution will be run as a pilot in Kenya and later introduced to other countries.

Congratulations to the team! From India: Vishal Shinde & Subhankar Ghosh and from the Netherlands: Ivo Luijendijk, Jessica Hofmann, Venko Ivanov, Willem Hoekstra

*NASSCOM is the Trade association of Indian IT BPM industry. It  is the premier trade body and chamber of commerce of the Tech industry in India and comprises over 2,800 member companies including Indian and multinational organizations that have a presence in India. https://www.nasscom.in/natc/