Samsung SDS reveals medical insurance solutions on the blockchain

Samsung, the South tech behemoth has made its forward stance on cryptocurrency clear with Samsung SDS, an IT solution organization partly owned by the giant revealing that they were ready to release a blockchain-based medical claims processing system in the next two weeks.

Yoon Shim, the Vice President of Samsung SDS, stated:

“With the messenger app, you can easily claim complex premiums by simply pressing the claim button. It’s possible with a blockchain network that connects healthcare providers and insurers.”

The blockchain-based solution will be demonstrated through practical use cases and domestic-international cooperation. The SDS Vice President went on to talk about automatic claim service and logistics tracking management service based on the blockchain network. According to her:

“Medical institutions and insurers have created a ‘blockchain healthcare network’ to conduct PoC and validated its effectiveness and will be launched soon this month. Patients can use the messenger app after storing the medical institution. Claims are forwarded and insured to the insurer. ”

The company also elucidated that including pilot test cases, the organization has about 110 use cases at home and abroad. The source suggests these cases were the reason why the Samsung SDS became the representative blockchain company of Forrester’s Asia-Pacific region.

The organization is also part of the Forbes Blockchain Diffusion Reading Global 50 Company. Yoon Shim talked in detail about the aforementioned cases, pointing out that communication and media sectors were increasing in case of interest from the perspective of the entire value chain.

Earlier this year, SDS had announced a strategic collaboration with Tech Mahindra on the former’s blockchain platform, Nexledger. During the tie-up, Ted Kim, the Vice President of Blockchain team, Samsung SDS America, had said:

“Partnering with Tech Mahindra for their industry and technology know how, and Pega for their adaptive and robust DPA solutions, Samsung Nexledger Universal has been able to address some as yet unresolved challenges inherent in operating in the global marketplace, especially around warranty, authenticity, recovery and customer satisfaction.”

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