In Life & Health and Property & Casualty insurance, scammers pose a major problem. A lot of time and financial resources are spent preventing scams and manually analyzing all incoming insurance claims to detect fraud. At present, 5-10% of all insurance claims in the USA are fraudulent and insurers in the United States incur losses exceeding 80 billion dollars a year.
How is it possible to solve this issue while simultaneously cutting the associated costs in half?
The main solution is to establish full reliability and transparency in operations related to analyzing insurance claims and paying out insurance compensation.
We can achieve this using unique technology based on Blockchain.
Imagine if the full lifecycle of the insurance claim could pass automatically.
Our reliable, automated solution analyzes the execution of the conditions of the insurance claim and determines what to do with the submitted claim on its own. Our solution will provide reliable information about whether the claim is genuine or fraudulent.
With our solution you’ll:
- Get an automated, reliable solution for analyzing insurance claims.
- Reduce the time spent on analyzing insurance claims.
- Reduce the percentage of fraudulent insurance operations.
- Reduce administrative costs.
- Reduce the costs for the claims settlement department in your company.