Blockchain Technology Reshaping the Trend on Smart Digital Insurance

Blockchain Technology Reshaping the Trend on Smart Digital Insurance


SIX Network with smart digital insurance platform, Claim Di, is revolutionizing the digital economy-oriented blockchain to a decentralized system for peer-to-peer.

Table of Contents

5 Reasons Why Digital Insurance Platform can Benefit from ‘snap’ Application


1. New Secure Technology – The emergence of blockchain technology has stirred the trend for digital insurance platforms that want to segregate their service from a democratized system.


‘Snap’ powered by SIX Network and Claim Di by Anywhere 2 Go conjoined tomake the insurance system become more secure and transparent.


2. Reduce Fraud – Adopting ‘snap’ technology into the digitization system of the insurance sector makes a big difference by reducing any potential scammer, modified images during the process of inspection.

The algorithm used in the blockchain of the ‘snap’ application helps reinforcing traceability and transparency of the visual inspection composition of a photograph captured by phone or camera.


On the other hand, Claim Di provides the fastest and easiest insurance claim on the tip of your finger. No need to waste time waiting for surveyors to do an inspection at the roadside accident.

The application will notify the insurance company instantly and store up the data into their central database for further inspection and process.


3. Reduce Administrative Cost – Through the automated verification of claim and payment through what known as smart contract. The task and automation process execute more seamless processes and lower the cycle time.


4. Applicable to Many Industries – The real use case example of blockchain leverage in its respective industry is proven to be useful for more than doing crypto transactions.


Insurance tech firm from Munich, Germany Etherisc has been involving blockchain into its system to create a new era of purchasing and sale of insurance efficiently. One product line that needs a precise calculation of the loss and profit for claimants is Crop Insurance.

With the Crop Insurance Application, users are enabled to select their crop location and product of their field to issue the insurance policy. In the case of calamity damaged, clients get an automated instant payout.


Blockchain technology allows Etherisc to check GPS and weather station data based on the location, then cost-effectively calculate the risk and contract terms. Decentralized insurance leveraging blockchain is practical in the real world.


Not only is it faster and money saving for the insurer, but eliminates the human error of potential fraud while streamlining the claim payments.


5. Advantages High security, transparency, and immutability are the key factors why blockchain is an advanced technology that helps people reach out to stable facts and true to the condition all the time.


When an order of any transition is requested on the blockchain, it requires a personal key to take action and to sign acknowledgment. This key is known by one single individual to prevent a tampered attempt.

The collaboration of two giants in its respective sector has signed a Memorandum of Association (MoU) by utilizing blockchain technology into the insurance system.

The Protocal of Blockchain in Digital Insurance


Thailand’s InsurTech, Claim Di has adopted the Captured-Locked Image (CLI) from its in-built ‘snap’ application to eliminate the chances of image manipulation.

Allowing for evidence-based imaging at the roadside accident scenes such as location, image surrounding to instantly analyze the details of a photograph.

The services Claim Di provides for clients collaborating with ‘snap’ are:

    • Claim Di – Smart digital insurance application that will alarm the client’s insurance company about the claim directly.


    • Police i lert u – Notify the nearest police station if the accident needs law enforcement.


    • Me Claim – Suitable when clients need both an insurer and police officer for the accident to occur.

Claim Di platform has been providing full service and conjoined all parties that are involved for any incident claim over 3,000,000 cases annually:

          • 12,500 Claim Di Bike agents in every region throughout Thailand.

          • 50 Trusted Insurance Company

          • 200,000 Police Officers on duty

          • 1,483 Police Stations

          • 24hrs Bangkok Hospital (BDMS) and its affiliated hospitals stand-by

Aims to make the claiming process much smoother, faster, and less vulnerable to fraud where blockchain acts as the indicator for evidence approval and information storage.


Reduces time of claiming process. No need to waste time on waiting for the surveyor to come to the accident scene. 


The client can make a car inspection by themself if there are small scratches from accidents or no major damage to the vehicle. These picture approval can be used for renewing car insurance policy.


Information stored in the system can be sent to the relevant department to improve the scenery of the area to reduce the cause of accidents in the future again known as Predictive Analysis.

Smart Digital Insurance System and Data Management on the Blockchain


Besides data storage and management on the blockchain, ‘snap’ can help segregate data ownership and create a database of drivers in the insurers’ portfolio. 


To be more specific, the insured or the drivers can permit the platform to use vehicle inspection and claim history as well as the driving profile of the insured. 

The digital insurance provider can use such information to provide reasonable and fair insurance premiums to the insurer

Thailand InsurTech has foreseen the big opportunity to create a digital economy for the community.

Involving blockchain technology will enhance the ability to store useful information and validate any data that is uploaded to the system to mitigate the risk of tampering fraud or cyber scams.

Insight Information from CEO of Claim Di (K.Kittiphan Anuphan)


1. How did SIX Network technology improve the facility of Claim Di?

“SIX Network has been providing a module of significant space for information management and storage of the images from the claimant. Assuring the insurers to calculate loss and payout profit to its client precisely.”


2. What has Claim Di application brought to their clients?

“We provide a fast and secure application for users to easily understand the use and directly contact the insurance company without no time wasting to wait for the surveyors to come to the accident scene.”


3. What is the thing you needed SIX Network to develop in the future to help improve Claim Di application?

“We want our clients to know that the storage system of Claim Di application is on blockchain which will ensure the trustworthiness of the application to the users. Also that we want to make sure that the users can retrieve their own data such as personal profile and images. Now our users think that the app runs their phone camera and is sending the image via the app to the insurer with no database.”


4. What is the position of  ‘snap’ on Claim Di application?

“‘snap’ position here is to prove the authenticity of the images taken on real time events by accessing the data based on the weather, condition, sun azimuth, lighting shade, etc. and calculate to find proof to reduce scamming claims for profit. After the calculation the images are stored on the blockchain with no access from anyone to make change.”


5. Who is suitable to use Claim Di and in the future do insurance companies still need their surveyor team?

“Claim Di is designed for end-to-end users so that it is fast for every relevant part to take action on the accident claim. Insurance companies still need their surveyor team, inhouse or outsource, to take part of the inspection. This is because when there is a major damage or accident with a litigant, clients could not decide on their own whose fault it was according to law. But we are emphasizing the use of application on minor damage that they can do car inspection via this app without the surveyor, it is easy and fast.”


The insurance of tomorrow is seamingly becoming true in the nearest future. Many parts of the world is promoting the smart digital insurance trend and foremost the blockchain technology into their basis activity.


The route for a digital insurance is a long hual including parties from government and technology stacks to bring about the small and large business behind a common ecosystem interest.


Keeping up with us at SIX News & Updates

Napathsorn Unchit
Napathsorn Unchit

Passionate about financial world and is an inverstor too! Giving out news update and blog post every month.
Visit us at SIX Network for more.

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ADX Trading Strategy: Learn How to Use ADX Indicator

adx indicator formula

Welles Wilder developed the Average Directional Index (ADX) as an indicator of trend strength. He developed the ADX Indicator with commodities and daily prices in mind, but it can also be applied to stocks. The Average Directional Index (ADX) is pivotal in gauging trend strength and potential shifts in market sentiment. It offers advanced insights into divergence and the balance of supply and demand. Aroon is designed to measure the time between highs and the time between lows, providing insights about potential changes in trends.

What is the best software for backtesting chart indicators?

adx indicator formula

Both strong upward and downward trends increase the Average Directional Index. Knowing when trend momentum is increasing gives a trader the confidence to let profits run instead of exiting before the trend has ended. However, a series of lower ADX peaks is a warning to watch prices and manage risk.

  1. The average directional index or ADX indicator was developed in 1978 by J.
  2. Finally, it says nothing about the actual price of a security, just the direction of prices and the strength of a trend.
  3. In other words, some trend-following or breakout strategies may have a lot in common with mean reversion trading strategies when coupled with high ADX readings.

How does the ADX indicator differ from the ATR indicator?

adx indicator formula

This can help them make important decisions about whether to hold off or advance on a trade—and which position to take if they make the trade. The average directional index is a tool used in technical analysis. It is the primary indicator among the five indicators that make up a technical trading system. Wilder was a mechanical engineer turned real estate investor and developer. He later became a full-time market and trading researcher, making major advances in the field of technical analysis.

What is the ADX indicator used for in trading?

If DI+ is above DI-, an ADX reading of 25 or higher indicates a strong uptrend. If DI- is above DI+, an ADX reading of 25 or higher indicates a strong downtrend. Welles Wilder in 1978, shows the strength of a trend, either up or down. According to Wilder, a trend is present when the ADX is above 25.

How to look for trend momentum

As the equity line shows, there is an improvement in performance, although overall the strategy is still not satisfactory. The ADX indicator, or Average Directional Index, is used to define the strength of a trend. The ADX value ranges from 0 to 100, where 0 indicates a total absence of trend (sideways market) and 100 indicates a very strong trend. A market that is ranging or has a weaker trend is indicated by a lower ADX number, whereas a higher ADX value indicates a stronger trend. In general, a strong trend is present when the ADX value is above 25, and a weak trend is present when the reading is below 20.

The ADX can help you avoid false signals by filtering out potential whipsaws, which are sharp price movements that may not indicate a true trend. To reduce the likelihood of false signals, look for the ADX line above a certain threshold; commonly, a value above suggests a stronger trend. The Average Directional Index (ADX) is integral to your technical analysis as it quantifies the strength of a trend. When the ADX value is above 25, traders typically regard the market as trending, providing confidence in the trend’s stability.

Because it is trend agnostic, ADX is classified as a non-directional indicator. Every technical analysis indicator has a story and so does ADX. The indicator is a part of a larger directional index developed by J. Traders could enter a long position when the DI+ line crosses above the DI- line and set a stop-loss order under the current day’s low, or below a recent swing low. When the DI- line crosses above the DI+ line, traders could place a short position with a stop above the high of the current day, or above a recent swing high.

This editorial content is not provided by any financial institution. Community reviews are used to determine product recommendation ratings, but these ratings are not influenced by partner compensation. SuperMoney checks for and removes fake reviews when identified.

Contraction periods are also marked when the +DI and -DI lines become squished together. These are contractions in volatility, which are often followed by periods of larger, trending movement where the lines separate again. Breakouts https://traderoom.info/adx-trend-indicator/ from these contractions (blue boxes) may present trading opportunities. Traders should use Wilder’s DMI in conjunction with other technical indicators and price action to increases the probability of making profitable trades.

There are many trading indicators that promise to help you find profitable trading opportunities. Read price first, and then read ADX in the context of what price is doing. When any indicator is used, it should add something that price alone cannot easily tell us. When the ADX is below 20, the trend is weak or the price is trendless. Breakouts happen when an asset’s price has sudden momentum, generally due to increased supply and demand. The difference creates price momentum, whether it is more demand than supply or more supply than demand.

Generally, ADX peaks above 25 are considered solid, even if they are lower. In an uptrend, the price can still rise on a falling ADX momentum because overhead supply is used up as the trend progresses. Prices are increasing when the +DMI reads https://traderoom.info/ above the -DMI, signaling an uptrend​. Prices are falling when the negative DMI reads above the positive DMI, signaling a downtrend. As shown in the video, the system created following Welles’ guidelines is not particularly effective.

A buy signal is typically interpreted when the +DI line crosses above the -DI line, while a sell signal is considered when the -DI line crosses above the +DI line. When analyzing the ADX in relation to price action, you may encounter situations where the two do not move in sync. All in all, when the ADX line is going up, the trend strength is increasing, and the price moves in the direction of the trend. When the line goes down, trend strength decreases, and the price goes through a correction or consolidation.