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Can Distributed Ledgers Accelerate Insurance Workflows?

The years 2018-19 are the banner years for the US$ 5.17 trillion global insurance sector. However double-booking, counterfeiting, and premium diversions through unlicensed brokers still throb insurance companies. And one of the prime reasons for such unethical activities is the lack of tight coupling between stakeholders. A simple solution to these challenges is distributed ledgers- a contemporary technology that ensures transparency. Distributed ledger technology in insurance can create a collaborative environment for handling information, minimizing instances of fraudulent activities. 

How Can Distributed Ledgers Accelerate Insurance Workflows?

Where most insurtech startups and small insurers are looking for “insurance-in-a-box” technology, big players demand bespoke technology to develop distinct capabilities for customer convenience and manage their enterprise workflows. Fortunately, distributed ledger technology solves a major chunk of this problem. 

For startups and small to medium size insurtech firms, cloud-based, customizable workflow management products can simplify the processes and create a collaborative work environment. Large enterprises can, of course, afford time and investment for tailor-made technologies suitable for their overall business requirements.

#Smart Contracts

Smart contracts can automatically determine whether to transfer an asset to the nominee or back to the source, or a combination of both. It does not necessarily create a contract or legal act, but can sure validate a condition. For example, Ethereum provides a prominent smart contract framework. 

Smart contracts allow credible transactions with or without involving third parties (oracles).

For example, Etherisc uses smart contracts concepts for building insurance products. The fundamentals used for Etherisc’s insuring flight delays product is applicable for insurance products like crop insurance, flood, earthquake, etc.

#Claims Management

Cifas reports a 27% rise in false insurance claims across the UK in the past year. Moreover, insurers identify 1 in every 30 claims as fraudulent. Organizations can track records better with distributed ledgers minimizing the illicit instances. 

Blockchain technology allows for automated real-time data collection and analysis. BCG expects Property and Casualty (P&C) insurance has the potential of processing claims up to 3x faster and 5x cheaper than traditional processes. 

It can also enhance customer experience by removing indirections due to various touchpoints between him and the claim settlement manager. Distributed ledgers can overall benefit processing time, automating payments, eliminating trust issues, and fraud reduction.

Traditional Insurance Model vs Distributed Ledger Insurance Model: Distributed Ledger Technology in Insurance

#Reinsurance

Reinsurance (passing a whole or part of insurance liabilities to another company) will simplify the sharing of data like bordereau and claims databases. For the insurance companies not preferring to share their client’s data, access rights can be customized in distributed ledgers.

According to PWC research, the reinsurance industry can save up to $10B by increasing operational efficiencies through distributed ledgers.

#Underwriting

“A shared, distributed ledger lends itself to this need for exchanging transparent, trustworthy data in a standard format in real-time.” 

Stefan Schrijnen: Director, Insurance, EY

Having accurate real-world data can help underwriters reduce paperwork and measure the assets and risks effectively.

Insurwave, a blockchain-enabled insurance platform uses a distributed database with secure access for insuring shipments across the world. Maersk, the world’s leading shipping and logistics company have partnered with Insurwave for insurance renewal of its fleet of 800 container ships. 

In the words of Lars Henneberg, Head of Risk Management at A.P. Moller – Maersk. “A simple dashboard gives us a live overview of how our assets are insured, and our brokers and insurers have access to the same overview. If the location, cargo, or other data about our ships changes, everyone is notified — no delays, no paperwork, no mistakes.” 

#Product Design using Distributed Ledger Technology in Insurance

Instead of all-encompassing insurance policies, consumers look for short, custom-built policies that satisfy their immediate needs. Therefore, to stay competitive, insurance companies (and even e-commerce startups) need to consistently build new and relevant insurance products. Expanding features or building new products on the same fundamentals can be effectively realized with strong and transparent ledgers.

AXA’s smart contract product Fizzy is a next-generation Parametric Insurer, which uses transparency as its USP. It provides travel insurance on flight delays and cancellations. The claims displayed on the website are stored in a blockchain and no one can change the terms after purchase. User can buy the insurance online. When the flight is delayed or canceled, the public databases of plane status information automatically triggers the insurance holder’s compensation. The event confirmation executes and closes the claim process instantly.

Precautions to Take With Distributed Ledgers in Insurance

  1. Enterprises should be cautious about sharing access rights on distributed ledgers.
  2. Blockchain transactions are irreversible, therefore every click from an authorized user should be mindful.
  3. Instead of mimicking a trend, insurance companies can deploy the distributed ledger technology to best suit their business requirements.

Conclusion

MarketsandMarkets expects blockchain technology’s share in the insurance market to reach $1.4 billion by 2023. 

The insurance industry has already deployed distributed ledger components for insuring flight delays, lost baggage claims, and is expanding to shipping, health, and consumer durables domains. 

The future can also witness blockchain, AI, drones, and robotics disrupting the insurance industry together.

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Sales Applications Are Disrupting More Than Just Sales

Sales success today isn’t about luck or lofty goals—it’s about having the right tools in your team’s hands, wherever they go. Following our earlier in-depth exploration of sales technology, we will now examine how cutting-edge sales apps are becoming the backbone of modern industries, transforming complex workflows into seamless, growth-driving machines.

From retail to healthcare, logistics to real estate, businesses are deploying sales applications to enhance operational transparency, cut redundant tasks, and build intelligent sales ecosystems. These tools are not only digitizing workflows—they’re driving growth, improving engagement, and redefining how field teams operate.

Lead Ecosystems: Unified visibility across channels

One app. Five workflows. Zero friction.

A leading insurance brand relaunched their app—a sleek, powerful sales companion that’s turning everyday agents into top performers.

No more paperwork. More time to sell.

Here’s what changed:

  • Every visit is tagged, tracked, and followed through. Renewals? Never missed. Leads? Fully visible.
  • Attendance and reimbursements went on autopilot. No more manual logs. No more chasing approvals.
  • New business and renewals are tracked in real time, with accurate forecasting that sales leaders can finally trust.
  • Dashboards are clean, configurable, and useful—insights that move the business, not just report on it.
  • Seamless Integrations. API connectivity with Darwin Box, IMD Master Data, and SSO authentication for a unified experience.

The result? A field team that moves faster, sells better, and works smarter.

Retail: Taking Orders from the Frontline—Smartly

Field sales agents in retail, especially FMCG, used to rely on gut instinct. Now, with intelligent sales applications:

  • AI recommends what to upsell or cross-sell based on previous order patterns
  • Real-time stock availability and credit status are visible in the app
  • Geo-fencing ensures optimized route planning
  • Built-in payment collection modules streamline transaction closure

Healthcare: Structuring Sales with Compliance and Precision

Healthcare leaders don’t need more reports—they need better visibility from the field.  Whether it’s engaging hospital networks, onboarding clinics, or enabling diagnostics at the last mile, everything needs precision, compliance, and clarity. 

Mantra Labs helped a leading healthcare enterprise design a sales app that integrates knowledge, compliance, performance, and recognition, turning frontline agents into informed, aligned, and empowered brand advocates. 

Here’s what it delivers:

  • Role-based onboarding that keeps every level of the field force aligned and accountable
  • Escalation mechanisms are built into the system, driving transparency across commissions and performance reviews
  • A centralized Knowledge Hub featuring healthcare news, service updates, and training modules to keep reps well-informed
  • Recognition modules that celebrate milestones, boost morale, and reinforce a culture of excellence

Now, the field agents aren’t just connected—they’re aligned, upskilled, and accountable.

Real Estate: From Cold Calls to Smart Conversions

For real estate agents, timing and personalization are everything. Sales applications are evolving to include:

  • Virtual site tour integration for remote buyers
  • Mortgage and EMI calculators to increase buyer confidence
  • WhatsApp-based lead capture and nurture sequences
  • CRM integration for inventory updates and automatic scheduling

Logistics: From Chaos to Control in Field Coordination

Field agents in logistics are switching from clipboards to real-time command centers on mobile. Modern sales applications offer:

  • Live delivery status and route deviation alerts
  • Automated dispute reporting and issue resolution tracking
  • Fleet coordination through integrated GPS modules
  • Customer feedback capture and SLA dashboards

What’s new & what’s next in Sales Applications?

Here’s what’s pushing the next wave of innovation:

  • Voice-to-Text Logging: Agents dictate notes while on the move.
  • AI-Powered Nudges: Apps that suggest next-best actions based on behavior.
  • Omnichannel Communication: In-app chat, WhatsApp, email—unified.
  • Role-Based Dashboards: Different data views for admins, managers, and field reps.

What does this mean for Business Leaders?

Sales Applications are not just tactical tools. They’re platforms for transformation. With the right design, integrations, and analytics, they:

  • Replace guesswork with intelligence
  • Reduce the cost of delay and manual labor
  • Improve agent accountability and transparency
  • Speed up decision-making across hierarchies

The future of field sales lies in intuitive, AI-driven applications that adapt to every industry’s nuances. At Mantra Labs, we work closely with enterprises to custom-build sales applications that align with business objectives and ground-level realities.

Conclusion: 

If your agents still rely on Excel trackers and daily call reports, it’s time to reimagine your sales operations. Let us help you bring your field operations into the future—with tools that are fast, field-tested, and built for scale.

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