State Farm, USAA join forces to test blockchain solution for auto insurance claims

State Farm and the United Services Automobile Association (USAA) are collaborating on a blockchain-based solution designed to automate parts of the auto insurance claims handling process.Cryptopolitan reported that the joint test platform will allow both insurance firms to conduct scheduled payments, aggregate total payments and calculate net balance. The platform also simplifies the subrogation process, by accumulating the balance of payments between the insurers; and it enables regular separate payments.

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