LexisNexis Legal & Professional announced that it’s providing flight status data to the Avalanche blockchain through a Chainlink node.
The company envisages the flight data being used for flight insurance, supply chain management and risk assessment. There have been several parametric flight insurance applications in the past that involve an automatic payout in the event of a delay without the need to make a claim. Major insurer AXA was one of the first to launch this type of insurance back in 2017, but it was perhaps too early and saw insufficient demand.
“By bringing this key aviation data on-chain through Chainlink, LexisNexis is accelerating smart contract innovation and supporting the growing adoption of blockchain-based specialty insurance solutions,” said Jeff Reihl, Global Chief Technology Officer, LexisNexis.
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