LifeHash releases a blockchain claims solution that improves customer trust and prevents fraud
Fraud is a huge challenge in insurance. At the same time, consumer trust is at an all-time low. LifeHash released their first blockchain SaaS solution, which facilitates and secures a single and comparable source of truth, whilst increasing transparency.
With a blockchain solution such as LifeHash, customers will be able to report incidents in real-time recording all relevant data to the blockchain. Using the LifeHash solution early in any claims reporting process allows all associated and relevant evidence to be gathered and secured faster, decreasing fraud and speeding up legitimate claims. This data can then be compared to other immutable records that were created the moment the item was insured. Our solution lowers the ability for fraudulent claims to be made by your customers while mitigating against phantom claims made by third parties, ultimately saving policyholders and insurance companies valuable time and money.
LifeHash cryptographically commits the data to public blockchains, such as Bitcoin and Digibyte. The records (digital footprint) are stored immutably in these blockchains eliminating any potential changes or manipulation to data and allowing future comparisons to be conducted definitively. This system promotes transparency for both customer and insurer.
“Blockchain technology will play an important role in innovating business models in insurance. By promoting mutual transparency and leveraging the blockchain’s immutability, insurers can think about new pricing models, improve operational efficiency and transparency and improve customer relationships.” Vincent Maliepaard, Marketing Director, LifeHash
About the solution
The SaaS solution is completely customizable to specific use-cases. Industries in which it can be especially valuable include car insurance, specific valuable items such as watches, jewellery, Art and building claims.
LifeHash contains standard functionality for reporting claims with camera, voice, text, and location data. This can be expanded on by integrating any third-party solutions, such as security camera systems or dashcams. Furthermore, LifeHash includes tools for first responders and insurance investigators to secure evidence early.
LifeHash was founded in July of 2021 and creates blockchain solutions for companies and organisations in several industries, including the insurance industry. The company has over 25 years of investigative experience gained from various law enforcement agencies around the world including New Scotland Yard London. Its development team has been building blockchain technology for over a decade. LifeHash combines existing time-tested blockchain solutions, such as Bitcoin and Digibyte, and applies them to industry-specific challenges. There is no need for complex integrations, questionable token systems, or specific knowledge. To find out more about LifeHash, visit https://lifehash.com/.
Do you work with intellectual property, IP rights, sensitive documents, complex supply chain processes, or any other data that is worth protecting? LifeHash can help you log and protect your data.
LifeHash was founded in July of 2021 and creates blockchain solutions for companies and organizations in several industries, such as insurance, supply chain, and legal. The company has over 25 years of investigative experience gained from various law enforcement agencies around the world including New Scotland Yard London. Its development team has been building blockchain technology for over a decade. LifeHash combines existing time-tested blockchain solutions, such as Bitcoin and Digibyte, and applies it to industry specific challenges. There is no need for complex integrations, questionable token systems or specific knowledge. To find out more about LifeHash, visit https://lifehash.com/.
- Protect anything: LifeHash can track, save, verify and manage all data immutably.
- Data Freedom: Share your information and data without losing ownership.
- Your data controlled by you: Your data is controlled entirely by you! We cannot see, change or delete data; you are in complete control.
- Proof at your fingertips: Need to prove where something has been? Whether it’s company assets or personal location data, LifeHash has you covered
LifeHash takes existing time-tested blockchain solutions, such as Bitcoin and DigiByte, and applies them to industry-specific challenges. By doing so, we take innovation straight to your proverbial doorstep. There is no need for complex integrations, legally dubious token systems, or specific blockchain industry knowledge.
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