ClaimShare detects possible fraudulent third party

The additional capabilities were added following feedback from customers and partners, broadening ClaimShare’s ability to help insurers uncover and prevent avoidable losses.

ClaimShare is a technology stack combining distributed ledger technology (DLT) with confidential computing and artificial intelligence. The solution is used by insurers to share claims data in a secure, decentralized, and GDPR-compliant manner. This makes it possible for the insurance industry to finally detect and tackle possible duplicate claims fraud with accuracy.

ClaimShare’s processes treat personal identifying information (PII) and public data in different ways. This allows public data to be stored and compared using R3’s distributed ledger technology, Corda, while PII is housed on the decentralized solution. This ensures perfect compliance. ClaimShare then uses R3’s confidential computing platform, Conclave, and artificial intelligence to compare PII securely to confirm instances of duplicate claims. R3’s Corda is the standard DLT in the financial services and insurance industries.