Blockchain Solution for
Micro Insurance in Indonesia
In addition, with the increased transition to micronization or subscription models, the premium levels for products will gradually decrease. Creating more challenges for insurance companies to support costly claims processes.
From a policyholder's perspective, claims is where they feel the most friction with their insurance company. This is mainly segmented into three parts.
1. Notifying the insurance company of a loss
2. Managing the toing and froing of documentation (sometimes by post....)
3. Providing payments details and waiting to be paid
KMB is a leading Community Building Platform in Indonesia, enabling cooperatives, mutual benefit associations, credit unions and affinity groups to better protect their members or clients from financial hardship and protection from unforeseen events. (B2B & B2C)
This can be done by utilising new technology to provide two main advantages:
1. Increase customer service & value *
2. Reduce claims administration cost *
3. Improve claims handling efficiency *