NCR Corporation
CONTEXT-AWARE BLOCKCHAIN INSURANCE

Abstract:

A system and method can automatically engage insurance coverage only when needed. A processor coupled to a sensor can automatically determine whether a sensed environmental condition satisfies at least one specified condition. When the sensed environmental condition satisfies the at least one specified condition, the processor can automatically engage insurance coverage corresponding to the specified condition by automatically initiating access of a blockchain ledger and automatically writing an engagement entry to the blockchain ledger, the engagement entry representing a date and time at which the insurance coverage is engaged. When the sensed environmental condition fails to satisfy the at least one specified condition, the processor can automatically disengage insurance coverage corresponding to the specified condition by automatically initiating access of the blockchain ledger and automatically writing a disengagement entry to the blockchain ledger, the disengagement entry representing a date and time at which the insurance coverage is disengaged.