Algorand Targets Insurance Fraud With New Partnership

Blockchain firms Algorand and Attestiv are teaming up to fight insurance fraud using DLT.

Distributed ledger technology (DLT) firm Algorand has partnered with blockchain-based tamper-proof media verification platform Attestiv to target fraud within the insurance industry.

The firms will combine their tech to develop a single platform for verifying digital media for a multitude of stakeholders across the insurance sector — including insurers, customers, repair vendors and carriers.

Media is validated using Attestiv’s AI-based platform “either at the point of capture or via forensic analysis” before being “fingerprinted” and uploaded to Algorand blockchain to create an immutable record of the validated documentation.

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Attestiv provides authenticity and validation for digital photos, videos and documents using patented tamper-proofing blockchain technology and AI analysis. 

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