Why Claims Sharing? Innovating within the Business‐to‐Business Insurance Claims Handling Ecosystem
Laimonas Stoncius · 2018
The claims sharing concept is based on digitizing the claims process through an automated exchange of insurance claims between Business-to-Business (B2B) customers, insurance service providers, and other claim process participants. This chapter explains the practical aspects of claims sharing concept and the proactive changes it brings within current claims handling practices. The claims sharing hub will exchange the claims data with an insurer's claims system, similarly to the way various insurers' self-service platforms register and process claims data. The insurance market would benefit from a broker focused solution that can be managed via the hub. The Uberization of the claims experts' structure is imminent. The hub platform and its exchange principles are both the right environment to provide access to the expert network. A claims sharing platform by using a blockchain-based technology provides any company with the opportunity to keep correct records of claims/losses in one place and prevent frauds.