Algorand Targets Insurance Fraud With New Partnership

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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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