AssureNet and Guardtime today announced an integration of Guardtime’s KSI Blockchain technology in to AssureNet’s ClearView privacy preserving platform, enabling a suite of liability and warranty claim management solutions for the insurance and transportation industries.
The implementation will provide services to approximately 60,000 NYC livery vehicles, through multiple insurance and leasing companies that are existing users of the AssureNet platform and will cover the following business areas:
Warranty Claims Management: In a connected transport ecosystem insurers become exposed to the deliberate or accidental manipulation of software and settings that void warranties but remain undetected. The integration of Guardtime’s KSI Blockchain enables insurers to have a complete and accurate picture of warranty validity at any point in time.
Liability and Subrogation Management: As the industry moves from connected vehicles to autonomous vehicles the fundamental question remains around who is liable in the event of an accident. Choices include the driver/passenger, the OEM manufacturer, software vendor, connectivity provider or network infrastructure provider. Guardtime’s KSI Blockchain provides immutable proof of what happened when. With that certainty liability can be attached and subrogation claims can be automated.
Security Operations: Integration into AssureNet’s Egress platform enables managed security service providers to offer continuous monitoring of in-vehicle firmware, software and configuration parameters triggering alerts in the event of malicious or out of policy updates.
Blockchain Based Claims Processing: Leveraging Guardtime’s KSI Ledger end to end automated claims processing becomes possible speeding up settlement times and dramatically reducing claims fraud.
Chris Brogan Chairman of AssureNet said: “We are thrilled to be the first connected car platform to implement blockchain for liability and claims management. As more and more vehicles become connected the questions around liability and security remain unsolved and Guardtime’s KSI Blockchain is a very elegant mechanism to guarantee security and provided an automated response in the event of a dispute."
Mike Gault, CEO of Guardtime said: “As transportation becomes more connected there is an urgent need to answer the question “what happened ?“ without the reliance on trusted parties or administrators. With blockchain underwriters and everyone in the ecosystem gets immutable proof of what happened simplifying claims, reducing fraud and enhancing security. We look forward to working with Chris and the team at AssureNet in making KSI blockchain a universal standard for all connected and autonomous vehicles.”
AssureNet is a Platform and Service provider to the interdependent automotive, transportation and insurance industries. Together with technology and insurance partners AssureNet is delivering the first secure, privacy-preserving, connected-vehicle and Internet of Things, blockchain-based risk management services and insurance products.
Guardtime is the first and only platform for ensuring the integrity of data and systems at industrial scale. Guardtime created Keyless Signature Infrastructure (KSI) to take on the challenges of today's perimeter-based security systems and secure the integrity of data in today's increasingly digital world. Built on an industrial blockchain, KSI signs any and all data across a system, allowing independent verification of time, integrity and identity for any moment in history. Guardtime's mission is to build the essential backbone for truth, assurance and integrity for our digital world.