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Samsung SDS release 'auto insurance claim service' based on block chain in August

Samsung SDS is creating a blockchain-based automated insurance claim service that combines financial services with health management. On June 18, Samsung SDS at its campus in Jamsil, southeastern Seoul, held a media day in which it announced its “Blockchain 3C” strategy that includes solutions for companies that are trying to adopt blockchain technologies. Challenges companies face in adopting blockchain The problems that companies that are trying to adopt blockchain in their business face include creating services that converge and integrate different industries, connecting blockchains that are developed using different technologies and the fast and easy appliance and expansion of blockchain. What is Samsung SDS’s blockchain platform? Last year, Samsung SDS introduced a corporate blockchain platform service, Nexledger. In April, the follow up version, Nexledger Universal, was introduced. Currently, 110 companies not only in Korea but also in other countries use Samsung SDS blockchain platforms. The company also has 51 blockchain patents in Korea and elsewhere. Samsung SDS proposed a solution: Blockchain 3C 1. Convergence. A convergence and integration of industries and functions. Samsung SDS at the end of August plans to introduce an automated insurance claim service based on the Nexledger blockchain that will be developed by a consortium consisting of medical institutions, insurance companies and a digital healthcare company. The automated insurance claim system will allow patients to apply for insurance claims through a healthcare network. For patients, this will cut down the unnecessary process of claiming their insurance, while for hospitals, reducing costs by 70 percent by avoiding tedious work and eliminating input errors. Medical institutions such as Hallym University Medical Center, Ewha Womans University Medical Center, Samsung Medical Center, Korea University Medicine’s P-HIS team as well as digital health companies 4Cgate, PEERNINE and BOMAPP are participating in the consortium. 2. Connectivity. Connecting different blockchains to form a network Samsung SDS introduced an example where it is connecting different blockchain networks between countries. The example was a project it is working on connecting the blockchain systems that monitor air cargo trade between China’s Tianjin airport and Incheon airport. There are many blockchain projects in development in Tianjin as it is designated as a special blockchain zone by the Chinese government. Samsung SDS said it is currently connecting the Tianjin airport air cargo blockchain platform that was developed by OneConnect, an IT company under China’s Ping An Insurance, with the Korea Custom Services’ logistic service at Incheon airport, developed by Samsung SDS. It said it plans to use it later as a blockchain based standard trade network for Korea and China. Samsung SDS also introduced DELIVER, which was jointly developed with the Netherland’s Port of Rotterdam Authority and ABN AMRO Bank, and connects Nexledger with Hyperledger Fabric and Ethereum. DELIVER in March succeeded in a trial run where information on Dutch containers headed toward Busan was recorded on Hyperledger Fabric and transmitted to the open block chain Ethereum. Samsung SDS said it plans to lead in the establishment of blockchain based global logistic information networks by expanding its DELIVER platform around the world. Cloud. Cloud based platform services The demand for platforms where blockchain systems and applications can be developed easily at a low cost is on the rise. Samsung SDS said it will provide its corporate blockchain platform Nexledger Universal to the global cloud marketplace. Corporate clients can then use Nexledger Universal without having to install a separate server or application. Currently, Microsoft Azure is on Nexledger Universal. Starting June 18 the open source version of Nexleger Accelerator was released on GitHub and also Nexledger Universal was made public simultaneously on global cloud platforms and portals. The service is provided for free for work-oriented tests, and will remain free for the time being

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