Polygon (MATIC) Aiming to Transform Insurance Industry with M-Setu

Friday 09 April 2021, 5:01 AM AEST - 2 weeks ago

M-Setu, a collaboration between InfosysConsulting and Polygon

Polygon (MATIC) has joined forces with Infosys to launch M-Setu. The leading distributed ledger technology (DLT) project says M-Setu is an open-source bridge designed to make it easier for enterprises to integrate Ethereum into their processes, according to a Twitter thread on April 8, 2021.

Polygon (MATIC) Revolutionizing Insurance

While the global insurance industry has grown into a multi-trillion dollar industry, the ecosystem is still plagued by numerous challenges, including proper digitization processes, lack of fail-proof ways of using and improving the quality of analytical data, amongst others.

Now, in a bid to help the industry mitigate some of the aforementioned challenges and make it easier for enterprises to interoperate with the Ethereum smart contracts distributed ledger, Polygon (MATIC) has joined forces with Infosys Consulting to launch M-Setu.

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According to the projects Twitter thread, M-Setu is an open-source Ethereum bridge specifically made for enterprises and the first application built on the platform is InsureChain, a solution the firm claims is designed to facilitate the frictionless porting of insurance policy from one provider to another.

More M-Setu Use Cases

Whats more the team has hinted that in addition to facilitating the seamless porting of insurance policies, more use cases for the M-Setu InsurChain solution, including for KYC/AML processes, fraud mitigation. Peer-to-peer (P2P) insurance on the blockchain and more, will be introduced in the coming weeks.

With this announcement, Polygon solidifies our commitment to helping Enterprises use public blockchains for meeting their strat ...

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