HomeSolutionsBlockchain for Insurance

Blockchain-based Solutions for the Insurance Industry

Unlock the power of blockchain for insurance and transform your key processes by delivering operational efficiency, security, and transparency.

Let’s reimagine the insurance business together!

Blockchain-based Solutions for the Insurance Industry

What blockchain for insurance brings about?

Reduced fraud

Reduced fraud

Verify KYC data, check policy and claim authenticity, and access immutable records

Claims processing

Claims processing

Get access to up-to-date information to boost the claims submission process

Transparency and trust

Transparency and trust

Eliminate human input to increase data security

Lower costs

Lower costs

Reduce the role of mediators, cut administrative expenses, and simplify transactions

Competitive advantage

Competitive advantage

Guarantee scalable operations and successful international partnership

Customer satisfaction

Customer satisfaction

Engage with customers properly through the compliant supply chain and IoT systems

46%
of insurers expect to implement blockchain within 2 years
84%
of insurance leaders believe that blockchain shapes business relations effectively
Have a blockchain project in mind?
You submit an idea — we come up witha custom solution.

Blockchain-based solution for an insurance company

Marketplace for a reinsurance consortium

The core functionality implemented in the platform:

  • creating an asset—the insurance contracts for various industries and associated risks
  • trading this asset (P2P rights transfer) within the defined group of insurers—reinsurance deals
  • automated processing of claims
  • basic back-office function
  • reporting forms: premiums collected/paid, amounts receivable/payable, etc.

Blockchain is a good fit for the insurance sectors

Healthcare

Blockchain for healthcare

Blockchain for healthcare

In blockchain-powered health insurance environments, all parties can securely and instantly store, update, and share medical records. This practice accelerates interoperability, leads to the creation of new types of interactive policies, and launches value-rich innovative services in health insurance.

Indemnity

Blockchain for indemnity

Blockchain for indemnity

The blockchain technology transforms the way physical assets are managed, tracked, and insured. Automate execution and monitoring of operational processes by providing enhanced customer experiences to your real estate clients.

Automotive

Blockchain for automotive

Blockchain for automotive

With blockchain, AI, and Big data, premiums can be calculated more accurately. Traffic conditions, accident frequency, current events, and an insured’s driving habits—all contribute to an incredibly precise risk assessment.

Blockchain for healthcare

Blockchain for healthcare

In blockchain-powered health insurance environments, all parties can securely and instantly store, update, and share medical records. This practice accelerates interoperability, leads to the creation of new types of interactive policies, and launches value-rich innovative services in health insurance.

Blockchain for indemnity

Blockchain for indemnity

The blockchain technology transforms the way physical assets are managed, tracked, and insured. Automate execution and monitoring of operational processes by providing enhanced customer experiences to your real estate clients.

Blockchain for automotive

Blockchain for automotive

With blockchain, AI, and Big data, premiums can be calculated more accurately. Traffic conditions, accident frequency, current events, and an insured’s driving habits—all contribute to an incredibly precise risk assessment.

  • Healthcare

    icon
    Blockchain for healthcare

    Blockchain for healthcare

    In blockchain-powered health insurance environments, all parties can securely and instantly store, update, and share medical records. This practice accelerates interoperability, leads to the creation of new types of interactive policies, and launches value-rich innovative services in health insurance.

  • Indemnity

    icon
    Blockchain for indemnity

    Blockchain for indemnity

    The blockchain technology transforms the way physical assets are managed, tracked, and insured. Automate execution and monitoring of operational processes by providing enhanced customer experiences to your real estate clients.

  • Automotive

    icon
    Blockchain for automotive

    Blockchain for automotive

    With blockchain, AI, and Big data, premiums can be calculated more accurately. Traffic conditions, accident frequency, current events, and an insured’s driving habits—all contribute to an incredibly precise risk assessment.

  • How Altoros implement blockchain for insurance

    01

    Business case clarification

    Our blockchain experts explore your business landscape, providing a feasible solution powered by the distributed ledger technology (DLT) to refine your business processes.

    02

    Development and deployment

    We can develop and help to deploy a fully-operational DLT-based product with well-defined functionality tested by real users in a real business environment.

    03

    Support and scaling

    The team at Altoros is always on guard to continuously improve the developed solution based on the newly-obtained data from the results evaluated against KPIs.

    04

    Training

    As a certified Hyperledger training partner, Altoros delivers hands-on blockchain training programs for your team to transfer knowledge needed for building a well-designed technical architecture in-house.

    Why choose Altoros as a blockchain services provider

    • Broad expertise
      Altoros has 3+ years of real experience in building production-grade solutions with DLT, as well as delivering projects on top of cloud, machine learning, IoT, and Big data.
    • Hyperledger general member
      Altoros contributes to open-source blockchain initiatives, including the Hyperledger Project by the Linux Foundation.
    • The certified blockchain development team
      Our expert team provides an optimal blockchain service and guides you through the implementation of a DLT-based product of choice.
    • Enterprise training
      As a Hyperledger training partner, Altoros offers powerful training sessions to help in-house technical teams to easily build and operate a DLT solution.

    Contact us

    Let’s consider how to drive your desired business outcomes and transform the insurance market with the blockchain technology.

    Gregory Skerry

    Gregory Skerry

    Blockchain Solutions Architect

    gregory.sk@altoros.com650 265-2266

    830 Stewart Dr., Suite 119 Sunnyvale, CA 94085