No Claims Delays. No Data Duplicity. No Policy Frauds.
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
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.
Dunitech 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.
All primary and secondary stakeholders such as insurers, reinsurers, regulators, validators,
brokers and customers share data in a tamper-proof repository producing enhanced visibility.
A shared database with multiple levels of security compliance stamps ownership of valuable
assets eliminates double-entries and double claims processing.
Streamlines transactional data between insurers and re-insurers. The insurer updates primary
data in the smart contract accessed by re-insurers, regulators and retrocessionaires.
The smart contract triggers policy execution in an event of loss covered by the insurance
logic. Works for all Insurance linked securities and bonds.
Reduce claims fraud by eliminating data silos. Grant customers more control over their own
data, including access rights
Enhance existing P2P models, such as reciprocals and mutual, by automating tasks and holding
funds in escrow on smart contracts
Dunitech 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, Dunitech's custom made solution works across the Insurance value chain.