Blockchain: A Potential Game-Changer for Life Insurance

To examine blockchain’s potential role in insurance, this white paper explores ways the technology can help life insurers simplify death claims processing, a process that requires an already traumatized beneficiary to undergo a time-consuming activity to process basic claims. We examine where a blockchain-based solution can combine the current death registration and the death claims processes into a single, simplified procedure requiring minimum intervention from multiple stakeholders. Apart from focusing on claims processing, the white paper also evaluates through a few representative use cases – how life insurers can adopt and creatively leverage blockchain for automating reinsurance claims, processing subrogation claims payments and ensuring auditability.

Spotlight

American Fidelity

American Fidelity is more than an insurance company. We offer benefits strategies to help empower employers to make benefits decisions that help both their organizations and their employees. We serve employers in the education, public sector, automotive and healthcare markets so we can provide specialized benefits recommendations. Many of our competitors offer one-size-fits-all benefits packages and services, but we believe you and your employees deserve a different opinion.

OTHER WHITEPAPERS
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Streamlining the Automotive Claims Process via Integrated Intelligent Automation

whitePaper | November 21, 2019

As intelligent automation (IA) emerges as a best practice across numerous industries, insurers and technology service providers alike are racing to build out use cases for IA that streamline the various stages of an automotive insurance claim. While automation cannot be viewed as an isolated lever or standalone solution to bring efficiency and cost savings, when IA integrates with other channels, technologies and platforms, it unleashes its full potential.

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How InsurTech is transforming the insurance industry to address a new era of emerging risks, and improving lives along the way.

whitePaper | December 10, 2019

Insurance, since its inception, has shaped patterns of economic and social growth. It has helped us mitigate the damage of threats and disasters from droughts to car accidents, and has opened new pathways to financial health and stability that would not have been possible without risk management. Insurance is part of all of our lives and, as societies across the globe now grapple with increased risks from climate change to geopolitics, and new trends in consumer demand and technological advancement, insurance is changing.

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LXA — a unique, no-code solution transforming the insurance claims process

whitePaper | December 20, 2022

Traditionally, those specialists working on data analytics and machine learning use cases have a fairly niche skill set. They have an innate aptitude for computer science, statistics, math and so forth.

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Top trends in property and casualty insurance 2023

whitePaper | December 5, 2022

As we head into 2023, P&C insurers will prioritise digital transformation initiatives to navigate geopolitical risks, supply chain disruptions, sluggish growth and rising inflation. Key actions will include focusing on customer centricity, prioritising agile product innovation, embedding sustainability into corporate strategy, and building advanced digital capabilities to build a resilient, future-ready enterprise.

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IPT compliance: A guide for insurers

whitePaper | March 7, 2023

Written by Sovos’ team of regulatory specialists, this guide for insurers provides everything you need to know about the IPT regulatory landscape. A mix of deep dive country-by-country information in addition to guidance on IPT and the digital tax landscape, this guide is for any insurer wanting to know more about IPT compliance. Despite its focus on Europe, our guide also explores other jurisdictions in Asia, Australia, North and South America. This guide is your trusted source of information wherever in the world you write business.

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Removing inefficiency in commercial insurance

whitePaper | June 21, 2022

The challenges facing the insurance industry are piling up. 2020 saw a record number of catastrophic events that each caused at least $1 billion in damages, while the economic contraction caused by the pandemic response affected insurance particularly severely.

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Spotlight

American Fidelity

American Fidelity is more than an insurance company. We offer benefits strategies to help empower employers to make benefits decisions that help both their organizations and their employees. We serve employers in the education, public sector, automotive and healthcare markets so we can provide specialized benefits recommendations. Many of our competitors offer one-size-fits-all benefits packages and services, but we believe you and your employees deserve a different opinion.

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