Innovation: Use of ethereum block chain variant on solidity for smart contract is one part of the innovation. How to trigger smart contract from Short Message Service or Unstructured Service Support Data are the possible innovations that we want to deploy in Nigeria and Africa.

Sector/Industry Application: Insurance ( farming and agriculture)

Description: Insurance claim system in Africa and Nigeria is very difficult due to documentation and verification processes. These problems discourage Nigerian from participating in the insurance process. We are using mobile technologies such as blockchain, machine learning and Geolocation to automate how claims are made. The process is called parametric insurance. This is because, the insurer and policy holder will have prior agreement based on prameters to trigger claim. For example, the weather might be bad for some farmers and they might need insurance coverage for drought. The insurance company set threshold for claim at 37 degree centigrade occuring 4 times in farming season. When the farmer enter such contract, they do so with the hope that once temperature shoots to 37 degree( four times) within their farming season, their damages are covered. The claim will be automatic.

Problem: Insurance claim system and poor customer management system by insurance companies.