The pilot project will start on 1 July and last six months. Through the platform, policyholders can file claims with multiple insurers in a single submission, instead of contacting each insurer individually.

Part of the pilot are insurers Cathay Life Insurance, Fubon Life Insurance, Nanshan Life Insurance, Shin Kong Life Insurance, Taiwan Life Insurance, Yuanta Life Insurance, China Life Insurance, TransGlobe Life Insurance, First Life Insurance, Cathay Property Insurance and Fubon Property Insurance.

With the use of blockchain technology, the project could make insurance services more convenient, said the FSC. It added that one important benefit is the simultaneous online updating of personal information with multiple insurers, for example a change of address.

The FSC points out that it will continue to encourage the insurance industry to use fintech to make customer service more convenient and enhance competitiveness.