A simple deck compiled to introduce blockchain for its basic concepts and these concepts are being applied in the insurance industry today.

1. “The Home of Blockchain in the Philippines"
@INSURTECH’20

2. SINCE MAY 2018
10,000
Visitors
65
Events
100
Speakers
3
Forums /
Hackathons

3. EDUCATION
• MEETUPS
• WORKSHOPS
• HACKATHONS
LEGAL &
REGULATORY
• CONSULTATION
DEVELOPMENT
• CONSULTATION
• WORKSHOPS

4. BLOCKCHAIN FOR
INSURANCE 101

5. INSURANCE PAIN POINTS

6. WHAT IS
BLOCKCHAIN (DLT)
• BITCOIN – 1ST
BLOCKCHAIN
APPLICATION
• DIGITAL CASH ON A
DIGITAL LEDGER
• OPEN SOURCE
SOFTWARE

7. WHAT IS
BLOCKCHAIN (DLT)
• DISTRIBUTED LEDGER
• CRYPTOGRAPHICALLY
SECURED
• TIME-STAMPED
• ONE-WAY WRITE
• PROGAMMABLE
LOGIC

8. WHY IS THIS
USEFUL
IMMUTABLE CONSENSUS CRYPTOGRAPHIC
SECURITY
DISTRIBUTED
STORAGE
REAL-TIME

9. DISTRIBUTED
CONSENSUS
REAL TIME
CRYPTOGRAPHIC
ENCRYPTION
IMMUTABLE
DISTRIBUTED
REAL TIME
DISTRIBUTED
WHY IS THIS
USEFUL

10. SMART CONTRACTS CONSORTIAIOT & DATA
INTEGRATION
BLOCKCHAIN OPPORTUNITIES
FOR INSURANCE

11. TOOLS OPPORTUNITIES
Smart Contracts Ø Reduction in transaction volumes
Ø Automated settlement
Ø Tamper proof automation
Ø Auditability
Ø Compliance
IoT & Data
Integration
Ø Smart-device driven transactions
Ø Efficient information sharing
Ø Data-driven insights
Consortia Ø Standardization
Ø Built-in Governance
Ø Shared Solutions
BLOCKCHAIN OPPORTUNITIES
FOR INSURANCE

12. CASE STUDY – AXA FIZZY

13. CASE STUDY – AXA FIZZY
“Delayed Flight Claims”
• STORAGE OF
PURCHASED
POLICIES
• INTEGRATION WITH
REAL TIME FLIGHT
DATA
• AUTOMATIC CLAIMS
SETTLEMENT

14. DETAILS WHY
Objective Ø Enable fast settlement
of delayed flight claims
Ø Eliminate tedious claim
forms for customer
Ø Eliminate verification of
claims data for AXA
Blockchain Ø Public Blockchain
(Ethereum)
Ø Enable public access and
write capability
Tools Ø Smart Contract Ø Fast verification and
settlement
Data Ø Global Air Traffic
Database
Ø Trusted Data Source for
Flight Status
CASE STUDY – AXA FIZZY

15. CASE STUDY – MAERSK TRADELENS

16. • END-TO-END SUPPLY
CHAIN INFORMATION
(SINGLE SOURCE)
• VERIFIABLE
AUTHENTICITY &
IMMUTABILITY OF
DOCUMENTS
• IOT REALTIME UDPATES
• LOWER
ADMINISTRATIVE
EXPENSES
“Tradelens – Supply Chain Tracking”
CASE STUDY – MAERSK TRADELENS

17. DETAILS WHY
Objective Ø Create a single source of
trusted data along supply
chain
Ø Eliminate paper
Ø Eliminate fraud
Ø Eliminate paperwork
Blockchain Ø Private Blockchain
(Hyperledger)
Ø Ensure data from trusted
sources only
Tools Ø Smart Contract
Ø IOT
Ø Fast verification and
settlement
Data Ø Data from stakeholders
along whole supply chain
Ø One single source of truth
for quick verification
CASE STUDY – MAERSK TRADELENS

18. CASE STUDY – B3i Consortium

19. • DEVELOPMENT,
TESTING AND
COMMERCIALIZATION
• WIDER ECOSYSTEM OF
DATA
• TRUSTED THIRD
PARTIES TO CERTIFY
DATA
• STANDARDIZATION OF
RULES & GUIDELINES
“Consortium of insurers and reinsurers”
CASE STUDY – B3i Consortium

20. QUESTIONS

21. PETER ING
E : P E T E R @ B L O C K C H A I N A D V I S O R Y . A S I A
W : W W W . B L O C K C H A I N A D V I S O R Y . A S I A
GET IN TOUCH

22. TYPES OF
BLOCKCHAIN
PRIVATE vs PUBLIC

23. TYPES OF
BLOCKCHAIN
PRIVATE PUBLIC
Access Level Ø Pre-Approved Access Ø Anyone
Participation Ø Permissioned
Ø Identities are known
Ø Permissionless
Ø Anonymous
Security Ø Pre-approved participants
Ø Voting / Multi-party
consensus
Ø Public Consensus
Mechanism
Transaction Speed Ø Fast transaction speed Ø Slow transaction speed
Transaction Cost Ø Low Ø High