Initial Project Description:
Many processes within the insurance industry are complicated and manual. Processes involving multiple parties, over and above a single insurer and customer, are more likely to involve frequent touchpoints, manual intervention and the exchange of duplicate information. These multi-party processes are costly for insurance companies, prone to error, and provide a poor customer experience. Blockchain technology offers the opportunity to streamline these multi-party processes. >> Read More
As a customer, submitting extended health claims when covered by multiple insurance carriers is complicated and confusing. I am required to submit multiple times, often have to call in, and it takes a lot of time to get my money back.
As a secondary/tertiary insurance carrier, I don’t know whether the shared information on an EOB is valid. This can lead to required resubmissions, which lead to higher effort, cost, and decreased customer satisfaction.
Duration of Project:
- 5 weeks
- Great-West Life
- Sun Life
- The Cooperators
We would like to extent our gratitude to the team at msg for performing the technical build on this project.
In addition, to our guest speakers:
- Doug Heinzman (The Burnie Group)
- Aman Samra, Jas Khehra and Naba Siddiqui (Espresso Claims)
Project Highlights and Milestones:
During this five-week sprint, the team followed design-thinking methodologies to identify their problem statements and develop the final solution. The team:
- Mapped “happy” and “sad” current-state customer journeys to identify points of pain and failure.
- Issued a customer survey to validate pain points.
- Developed future state processes, which were translated into requirements and handed over to the msg build team.
- Developed a series of wireframes to represent the customer facing and insurer facing font ends of the solution.
- Wrote and delivered the Innovation Report and Final Presentation.
FINAL OUTPUTS (CUSTOMER CLAIM PORTALS):
The final output of the project was a working blockchain prototype, built on Amazon Web Services (AWS) using Hyperledger Fabric. This MVP enables a customer to submit a single claim, and have it adjudicated by two insurance providers. In theory, any number of insurance providers and customers may be added to the solution. This would allow, for example, a single claim to be adjudicated by more than two insurers. For full access to our MVP, check out how to join Cookhouse Lab!
Customer Portal, Claims History View: Grey Life Insurance
Customer Portal, Claims History View: Green Door Insurance