Solving duplicate payouts in the insurance industry

Insurers pay out duplicate claims for the same loss event hundreds of times a day. Today, the ClaimShare platform can detect and prevent double-dipping across insurers without revealing any sensitive data.
Solving duplicate payouts in the insurance industry
Benefits of Claimshare
Detect new form of fraud
Smooth integration
Simplified backtesting
Cost savings passed on to the customer
The technology has never been ready to enable the sharing of claims data between insurers while respecting business and customers' privacy. This just changed.
ClaimShare does not require any changes to the insurer's front, middle or back office systems. The platform integrates with claims handling systems and insurers' back office systems using simple APIs.
Don't take our word for it, test it! ClaimShare enables insurers to backtest data immediately without the need for any integration or deployment. Contact our sales team below and learn how many payouts could have been prevented by using ClaimShare.
Almost 10% of insurance claims are estimated to be fraudulent, from which 5 to 10% are instances of double-dipping fraud. Therefore, double-dipping is estimated to cost insurers $5-10 billion each year, resulting in increased premiums for customers
ClaimShare offers the first opportunity for insurers to collaborate with one another to enhance their fraud detection systems while preserving both business and customer privacy
Use Cases
The same claim at two insurers
Low value claims at multiple insurers
Different types of claims at two insurers
Corda Blockchain
Confidential Computing
The Corda layer acts as distributed ledger between the insurers, enabling the sharing of public claims data in real-time and in an immutable way. Built for the needs of highly regulated institutions, Corda is a next-gen blockchain platform that delivers privacy, scalability, and security.
ClaimShare uses Intel Software Guard Extensions (Intel SGX) technology to enable the matching of customer's private data once a suspicious claim is detected. By matching the data, no sensitive data is exchanged, making the solution fully GDPR compliant. ClaimShare is deployed on Microsoft Azure Confidential Compute VMs.
AI algorithms - including fuzzy matching - are used to optimize the detection of suspicious duplicate claims using public data on the Corda ledger and to confirm the fraud when running inside the confidential computing enclaves.
Artificial Intelligence
Technology and Business Partners
Contact Us
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