Representatives from LumenLab, the innovation center of MetLife Asia in Singapore, said that the first in the world began to test the automatic provision of financial assistance to pregnant women with gestational diabetes mellitus, implemented using blockchain technology. The test, which is scheduled to finish in 6 months, can download the app in the app Store and get up to 2500 Singapore dollars (about $1900) for medical expenses associated with the disease.
As noted in the company, this solution allows you to provide women assistance without the need for maintenance treatment. Results of outpatient studies pregnant via their mobile devices come in a blockchain system and lead to automatic payment of funds through the pilot insurance product Vitana developed under the regulatory sandbox Monetary authority of Singapore (MAS) in partnership with companies SwissRe, Cognizant, Vault Dragon and a number of health clinics.
In addition, among the features of this product LumenLab noted an increased level of security of transmission of information: insurance companies do not need to access medical data of the clients to confirm the occurrence of the insured event.
Recall that in April, the international company of Marsh, a leading insurance broker and risk consultant, has announced the introduction of the world’s first commercial blockchain solutions for the digitalization of certificates of insurance. At the same time, the fourth largest Bank in Australia, ANZ announced that it is developing a blockchain solution, aimed at increasing the efficiency of the insurance industry. And in June, one of the world’s largest insurance blockchain Blockchain consortia of the Insurance Industry Initiative (B3i), founded by Allianz, Aegon and Swiss Re, has stated that it intends to create new products on the platform from Corda R3, and to switch from a paper to a system of smart contracts.