The problem to solve was further far beyond the scope of any technical solutions available on the market. This is why AXA and AIA have partnered with Luther Systems to build the first world's international common claims network.
This solution, best for insurers and best for customers, required automation that could handle the inherent complexity of a multi-insurance process involving hundreds of different Insurance companies and processes. It is equally essential that the new network could be built scalable to easily adapt to an always broader audience.
Resemble is a technology developed for Claims fraud. It allows the match detection between documents using a novel “Multi-signature hashing” method, with a resulting tool for collaboration privacy and security proof.
The Resemble (matches detection) product can:
- Identify similar claims
- Ensure data privacy between all the participants of the network
- Ensure data storage on the Blockchain is GDPR Compliant
- It can identify similar claims in less than 1 sec
- Create a network that is easily scalable to add new insurance companies
All the data are elaborated in the data storage of each insurance company, then encrypted and only the hashes are shared in the semi-trusted network, where all the companies are.
At this point, the Smart contract will validate the claim by searching for a similar claim, and send an alert to the insurance companies involved in the detection of a similar claims
The image below, by way of illustration, is a representation of the network and the interactions. Insurance company A inserts a claim. The claim inserted by company A is similar to one of the claims handled by company B. In the case of a match, all of the companies with the similar claim receive an alert.