HONG KONG, June 24, 2024 /PRNewswire/ -- iSHANG Technology
Limited (iSHANG), a leading technology company specializing in Web3
solutions, and PSC Insurance Holdings (HK) Limited (PSC Insurance),
subsidiary of PSC Insurance Group publicly listed on ASX, are
pleased to announce their collaboration on the Cyberport Web3
Proof-of-Concept Subsidy Scheme to develop a pioneering "Proof of
Coverage" Insurance Solution (PoC Solution). The partnership
between iSHANG and PSC Insurance brings together their expertise
and resources to create a user-friendly interface for
policyholders, implement advanced Web3 smart contracts, and
establish a secure and scalable infrastructure. This innovative PoC
Solution aims to revolutionize the insurance industry by
introducing non-transferable NFT (non-fungible token) certificates
for policyholders, providing a secure and transparent platform for
managing insurance policies. For more information, please visit -
https://ishang.com/psc-insurance-group/
The collaboration between iSHANG and PSC Insurance reflects the
collective effort to propel the adoption of Web3 technologies and
drive digital transformation within the insurance industry, key
advantages of PoC Solution include: 1) creating a secure,
tamper-proof and transparent record of all transactions; 2)
reducing the time and costs associated with claims processing; and
3) using smart contracts to increase efficiency and eliminate the
need for manual intervention in routine processes. Web3 technology
and blockchain, coupled with PoC Solution, are revolutionizing the
insurance industry. They provide insurance companies with a way to
ensure data integrity, transaction security and transparency. By
leveraging these tools, insurers can streamline claims processing,
automate certain tasks and increase trust between insurers and
customers.
![iSHANG and PSC Insurance Collaborate on Web3 "Proof of Coverage" Insurance Solution under Cyberport Web3 Proof-of-Concept Subsidy Scheme iSHANG and PSC Insurance Collaborate on Web3 "Proof of Coverage" Insurance Solution under Cyberport Web3 Proof-of-Concept Subsidy Scheme](https://mma.prnewswire.com/media/2433148/PSC_Insurance_Group_x_iSHANG_Banner.jpg)
"Our collaboration with iSHANG, exemplifies our commitment
to driving innovation in the insurance sector," said Dr.
Hei Wong, Managing Director of PSC
Insurance Holdings (HK) Ltd. "As the insurance industry
continues to evolve, Web3 technology will undoubtedly play an
increasingly important role in improving transparency and trust
between insurers and their customers. With PoC Solution provided by
iSHANG, we are confident in developing a secure and efficient
platform for managing insurance certificates, ultimately enhancing
the experience for our policyholders."
"We are excited to collaborate with PSC Insurance on the 'Proof
of Coverage' NFT Certificate Project, and we are grateful for the
support from the Cyberport Web3 Proof-of-Concept Subsidy Scheme,"
said Samson Lee, Co-founder and CEO
of iSHANG. "This partnership, enables us to accelerate the
development of our project and deliver a transformative solution to
the insurance industry."
The Cyberport Web3 Proof-of-Concept Subsidy Scheme plays a vital
role in fostering innovation and adoption of Web3 technologies
across various industries. By providing financial support, the
scheme empowers businesses to explore the potential of emerging
technologies and accelerate the commercial adoption of Web3 in
different industry sectors.
As the insurance industry embraces digitization, the need for
transparency and trust becomes critical. Web3 technology and
blockchain are revolutionizing the industry, equipping it with
cutting-edge tools to protect data integrity and secure
transactions. The PoC Solution enables insurance companies to
create transparent and secure records of all transactions,
streamline claims processing and automate through smart
contracts.
About iSHANG Technology Limited (iSHANG)
iSHANG operates a "Web3-as-a-Service" (W3aaS) platform that
provides the infrastructure and a gateway for brands &
enterprises to enter into the Web3 market. iSHANG W3aaS platform
developed 10 x Web3 Solutions that are built on Ethereum and
Polygon blockchain using IPFS (Inter Planetary Filing System)
decentralized storage system. In addition, iSHANG
provides Campaign Driven Launchpad & Marketplace, designed
for brands & enterprises to launch their web3 marketing
campaigns & facilitates the promotion, customer acquisition,
retention programs and also secondary exchange of NFTs. Ultimately,
iSHANG also offers one-stop consulting campaign management which
develop tailor-made Web3 marketing campaigns empowering brands and
enterprises to transform their businesses in various use-cases to
capitalize new market opportunities.
For more information about iSHANG, please visit -
https://ishang.com/
About PSC Insurance Holdings (HK) Limited
PSC Insurance Holdings (HK) Limited is a subsidiary of PSC
Insurance Group Ltd (ASX: PSI), a diversified insurance services
group with operations in Australia, United
Kingdom, Hong Kong,
Vietnam and New Zealand. We operate through 4 operating
segments and have over 40 trading businesses across the Group.
For more information about PSC Insurance, please visit -
www.pscinsurancegroup.com.au/ and
www.charter-gilman.com.hk/
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