The startup has developed a decentralized insurance platform that enables uninsured individuals to access customized insurance solutions through blockchain technology. By streamlining sales, policy administration, and claims processing, the platform reduces operational costs and accelerates claims resolution, enhancing the overall insurance experience.
Funding
$2.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional insurance processes often involve slow, unreliable, and expensive back-office operations, leading to inefficiencies and increased costs. Uninsured individuals face challenges in accessing customized insurance solutions due to complex sales processes, policy administration, and claims processing.
Solution
Blocksure OS is a next-generation insurance platform that leverages blockchain technology to streamline insurance processes and reduce back-office costs by up to 90%. The platform enables rapid launch of new insurance products, offering a mobile-first experience for customers with digital administration of quotes, purchases, and claims. By connecting everyone across the insurance supply chain in real-time, Blocksure OS facilitates real-time data sharing, automated premium allocation, and FNOL automation, enhancing the overall insurance experience. The system ensures data quality and security through digitally secure identities and consistent, immutable data, while also improving governance of transactions and regulatory requirements with full auditability.
Target Audience
The primary target audience includes insurance carriers, brokers, and MGAs seeking to reduce operational costs, launch new products quickly, and improve customer experience, as well as uninsured individuals looking for accessible and customized insurance solutions.
Features
- Blockchain-based platform for secure and transparent insurance transactions
- Automated premium allocation and claims processing
- Real-time data sharing across all parties in the insurance supply chain
- Mobile-first experience for customers with digital policy management
- Reduced back-office costs through process automation
- API for rapid integration with existing insurance systems
- Full auditability of all transaction events for improved governance