Blockchain in Insurance
No Claims Delays. No Data Duplicity. No Policy Frauds.
Build better products with Insurance over Blockchain
Silversoft’s signature blockchain for Insurance solution can help enterprises address critical bottlenecks such as duplicate entry, fraudulent claims and unforeseen delays in claims handling. Build on the foundation of trust, the system is a peer-2-peer model that produces total transparency, fastens processing and cuts down on time and money.
The Need of Blockchain Applications in Insurance
Insurance companies have to store, verify and process huge volumes of customer data and release payments against claims. An absence of an automates solution has left behind a complicated ecosystem inviting inaccurate claims handling and policy manipulation. Not to miss a helpless customer who has no choice but to avail the services of an underperforming sector.
For the insurance sector, blockchain cryptographically links together claims data, transaction data and other valuable data sets from all stakeholders. The data stored in a ledger is copied to all thereby assuring complete transparency.
Blockchain in Insurance - Automate and Accelerate Data Processing
Silversoft holds proven expertise in building end-to-end blockchain infrastructure for BFSI products that help cut costs, save resources and stay in compliance with regulations. Through self-governed smart contracts, our insurance on blockchain application automates risk modelling, auditing and compliance checks. It brings all stakeholders on the same board thereby eliminating false entries and encouraging trust among all. Our insurance over blockchain application comprehensively impacts the following 6 pillars of the industry.
Silversoft’s Differentiator – Blockchain Application for Insurance Value Chain
Silversoft creates a common processing and perception ledger between the institution (such as clinics etc.) and the insurer. This helps in cutting down data capturing and exchanging effort thereby fastening the claims process instantly and accurately. The shared communication mechanism improves claim validation and payments while abbreviating the overall risk of manual errors. Built to work for all possible use cases, Antier’s custom made solution works across the Insurance value chain.
- Self-Governed Claims Handling & Underwriting
- Replicated to all Types of Insurances
- Built in Security & Scalability
- Eliminated Risk of Frauds
- Eliminated Dependency on Intermediaries
- No Single Storage of Data
- Handle Both Group and Individual Policy
- Reduce Due-Diligence
Features of our Blockchain for Insurance solution
