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BirthVenue Insurtech Pilot

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An intelligent solution to the legacy and outdated insurance claims management systems in use presently.

Leveraging blockchain technology, we have created an elegant solution for the delayed insurance processing time and claims settlement period.

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BirthVenue Insurtech Pilot

  1. 1. BirthVenue. Getting your Organisation on Blockchain. c
  2. 2. What is BirthVenue?c
  3. 3. Very few organisations know the real fundamentals of Blockchain, and even fewer have the requisite resources and talent to execute. However, what is true is that everybody wants to embrace it. Birthvenue is a blockchain-as-a-service provider. BirthVenue assists management teams in understanding the fundamentals of blockchain technology by creating industry-specific case studies as references to use cases. Our team of engineers develops elegant blockchain solutions and platforms to empower successful businesses into new technology spaces. Our lawyers on board will help clarify all regulatory requirements to make sure operations are within the purview of the law.
  4. 4. Our ‘Stellar’ Partners.
  5. 5. Problems to tackle in the Insurance Industry.
  6. 6. 1. Lack of trust in the fragmented insurance industry. 2. Delayed insurance processing time. 3. Delayed claims settlement period.
  7. 7. How did the client go about addressing these issues?
  8. 8. The client is a company looking to create intelligent solutions for prolonged and outdated insurance claims management system in use presently. Starting from health insurance, it wants to leverage blockchain as the core technology platform for building the platform. They have partnered with Birthvenue to design and develop version 1 of a dApp (decentralized app) on top of blockchain taking 3 parties into account - Customer, Hospital, Insurance Provider.
  9. 9. How did Birthvenue provide a solution?
  10. 10. • Birthvenue’s team of developers provided blockchain support to develop unique solutions for the claims management process in the healthcare insurance industry. • Birthvenue created a blockchain platform that is backed by the Hyperledger Fabric infrastructure. • Hyperledger helps organisations to form a consortium and perform operations using smart contracts and maintain a shared ledger. • This helps in providing more transparent processing as well as robust architecture.
  11. 11. The types of stakeholders involved in the equation
  12. 12. Application Platform(Acts on behalf of the client's App users) Insurers Claim Administrators Banks Claim Administrators
  13. 13. How does it work?
  14. 14. • Each of these organisations hosts an MSP and two peer nodes that acts as a network endpoint for the respective organisation. • These nodes are owned and maintained by the organisations. • These organisations defines the business rules with which they perform transactions with each other. • These business rules are embedded into the smart contracts. • Execution of these smart contract operations is triggered by the employees of the respective organisations using a client interface. • These employees use the credentials generated by their organisations MSP to perform operations in the network.
  15. 15. Birthvenue’s client list comprises industry disruptors and solution providers. This case study is an example of a real-life application of blockchain technology and how it can transform the insurance industry. Birthvenue was able to help them navigate through the use and implementation of blockchain to streamline many existing processes in a fragmented industry.
  16. 16. BirthVenue. Getting your Organisation on Blockchain. c

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