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Blockclaim’s 2019 round up

With the Christmas and New Year break just around the corner, it’s the perfect moment to take a look back over what has been a busy and exciting 2019 for the team at Blockclaim. We’ve developed the business with some exciting new partnerships and also had an opportunity to grow and develop the team. Let’s have a run through some of the highlights.

Blockclaim at the MetLife Accelerator

Back in August, members of the team flew out to North Carolina to participate in the MetLife Accelerator. Created and run by accelerator startup Techstars, this is one of the most important events in the insuretech sector. We were proud to be one of nine companies invited to participate out of thousands of applicants.

The team had the opportunity to spend time with industry-leading mentors. These included serial entrepreneurs and start up gurus with an incredible wealth of experience. The lessons learned will stay with the team forever.

New POVs in diverse sectors

In total, we signed six new pilot projects over the course of 2019. These were with some of the biggest players in the insurance business. The thing that really stands out, though, is just what a diverse and varied industry insurance can be. Let’s have a recap of just a couple of the new projects to illustrate the point.

Speeding up automotive claims

In a 12-week pilot with one of Belgium’s top bank-insurers, Blockclaim’s insuretech solutions brought the client instant savings of more than €1.5 million. The “quick wins” were brought about through improved efficiency through automation. However, the even more exciting aspect is that these represent the tip of the iceberg in what can be achieved in the longer term. Second-stage data enrichment will see the cost savings escalate dramatically, through both additional automation and fraud identification.

Medical benefits that go beyond insurance claims

Last month we reported a £1.5M saving on a project involving the use of contextual AI in delivering healthcare solutions. Specifically, the pilot explored how Blockclaim’s technology could make matching treatment and medication with patient conditions and illnesses quicker and more efficient. However, as soon as the round table discussion got underway, it became clear that there were a whole host of parallel applications. Initial indications point to cost savings in the hundreds of thousands of Euros, but these will almost certainly escalate into the millions once the full benefits are realised.

Blockclaim has also launched pilots with four other major companies in the insurance sector this year. But what makes the above two really stand out is that you don’t have to be an expert in insuretech to see the benefits. After all, every one of us has to deal with automotive or medical insurance claims on a personal level from time to time.

Looking forward to 2020 with perfect clarity

This year we have also expanded the team, welcoming Yanael onboard, and together we will be looking to achieve more of the same next year, but on an even greater scale. We’ll be looking to expand the business and work with new clients across three continents. So have a wonderful break over the holiday season – see you in 2020!

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Blockclaim launches healthcare pilot with major European partner

Think of contextual AI in the insurance sector, and your mind has a tendency to go straight to the automotive and perhaps home insurance markets. These, after all, are the types of insurance most commonly associated with fraudulent claims. However, insurance fraud goes way beyond these specific silos and Blockclaim’s software solutions similarly go beyond fraud detection and prevention.

This is plainly demonstrated in the latest pilot project, in which Blockclaim is working alongside one of Europe’s giants in risk consultancy and medical insurance to implement contextual AI solutions. For this particular case, the technology will be used to automatically match treatment and medication with patient conditions and illnesses.

More data means better results

Contextual AI seeks to enrich insurance claims data by using relevant contextual data to increase the information that Machine Learning algorithms use in order to learn. It is literally a training process, and the more they study, the better and more accurate they become at what they do.

It creates a virtuous circle, a little like a human in some specialist sphere, who inevitably gets better at what he or she does with practice and experience. The ultimate outcome is more accurate predictive performance compared with the conventional AI solutions currently in place.

To get the training process underway, the client has provided Blockclaim with more than 10,000 historical data entries, each of which has information on medical conditions and the medications prescribed. We have then been able to add further enrichment and detail to this data.


It goes without saying that automating any part of a medical diagnosis process needs to be approached extremely cautiously and methodically. As things stand at present, there is a standard requirement for the manual approval of any medical condition to illness correlation and that this step must take place three times for each patient before the process can be automated. Yes, that’s three times for every patient.

Extra use possibilities

During a workshop session, it soon became clear that use of Blockclaim’s technology could easily be expanded to bring additional side benefits. These include recognising different variants of similar medications, automation of new medication entries and analysis of both medical conditions and their treatments to bring yet richer data.

Potential savings

With the present level of AI usage, the client is able to automate around 564,000 claims per year. This corresponds to a financial saving of around €285,000. Just by enhancing these processes to contextual AI, the savings could be increased by around 38% to €388,000. However, that is only the beginning.

Further development of contextual AI into a second stage would see the savings increase to more than €1 million. Even this, however, does not take into consideration the extra use possibilities. When they are factored in, the anticipated savings mount to more than €2.3 million per year.

A world of possibilities

Faster and more accurate diagnoses that at the same time result in such significant cost savings represent a win / win for both the industry and the patients it serves. The findings so far represent only the tip of the iceberg in what can be achieved. There are exciting times ahead, and Blockclaim is proud to be at the heart of this innovative development.

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