WCT's Efficiency Improvement in Damage Assessment and Claims in Agricultural Insurance
In agricultural insurance, damage assessment takes a long time and claims processing is slow, making it difficult for farmers to quickly obtain financial support. WCT combines IoT devices to collect meteorological data and crop growth conditions from the fields, automatically triggering the damage assessment process after a disaster occurs, with on-chain data serving as the basis for claims. Compensation funds are quickly credited in the form of WCT. After a certain agricultural insurance company adopted WCT, the damage assessment time was reduced from 7 days to 1 day, claims efficiency improved by 80%, the enrollment rate of farmers increased by 30%, effectively reducing agricultural production risks.