Samsung SDS Develops a Loss Claim Service on Blockchain

Samsung SDS announced today that they have started a blockchain-based loss claim service for insurance. With this new service, members do not have to visit a hospital to receive support documents required by insurance companies.

Samsung SDS launched this service on their native Nexledger platform in partnership with Korean domestic insurance companies, hospital networks, and various healthcare companies. It will initially be available at just a small number of hospitals in Seoul through the Samsung F & M and NH Nonghyup Life Insurance companies.

A Samsung SDS official stated, “by applying blockchain technology to a system that stores and manages data, hospitals can reduce unnecessary documents, such as redundant expense receipts.”

He added, “The new program will prevent document tampering and significantly reduce costs” across the board from the healthcare provider to the patient.

The new service from Samsung is similar to an existing insurance-via-blockchain platform Solve.Care, which verifies the identity of patient users and provides doctor recommendations through a native app. Solve.Care was launched in Korea last fall and is expected to expand rapidly in the market despite Samsung’s entrance to the insurance-via-blockchain game.

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