Client:
Our client’s company is transforming the insurance ecosystem allowing insurers to deliver digital customer service right away at a fraction of their existing operating costs through blockchain technology and distributed service architecture.
Challenges:
Being one of the fastest-growing blockchain InsurTech company, they needed an enterprise-wide effort aimed at helping by supporting and collaborating with insurers. Our client wanted to deploy an enterprise product that is capable of providing better support for platform-users, where it is intended to provide personalized service and build a market for leading customer experience.
They wanted to achieve full benefits from the digital front by providing an accurate digital back end and front end core admin platform.
Our Approach:
Chimera worked with the client to understand their quality and outcome measurement and be a provider of enterprise product. The Chimera’s team assisted with the requirements design definition and technological-based requirements. This project is on-going, where we are developing and executing milestones with the complete set of test cases to ensure the product has a high degree of data accuracy before rolling out to the providers.
Our Solution:
Chimera assembled a team of developers who are skilled in working for a digital solution that leverages the power of the cloud, blockchain, and analytics.
The platform is being created by understanding the insurance process, which is a collection of events to form a lifecycle. Chimera is building the platform in such a way that where submission is initiated through the time-based trigger, payment, or other series of events that will happen through various means. Each transaction that occurs would be hashed and stored on a scalable, decentralized platform distributed ledger. This creates a single source with a complete data set that information is shared with whoever is required. This allows in-depth analytics without exposing confidential information.
This enterprise product can be used in such a way that the users can quickly build new products that deliver straight through and authentic digital client experiences. This product can be deployed within a week.
Business Outcome:
- With more strict compliances and regulations updated every day, the platform will help to regulate the procedures so that the user can save time and money. It protects customers privacy yet allows sharing of detailed analytics
- Easy data retrieval for real-time risk analysis and fraud detection
Tech Stack:
Hyperledger Sawtooth blockchain, Microservices,