The traditional insurance claim process is often slow, opaque, and prone to fraud, leading to increased operational costs and delayed claim settlements. Insurers face challenges in verifying claims efficiently, while customers lack transparency and control over their claim data. Fraudulent claims further strain the system, impacting the premiums for honest policyholders.
SecureSure is a decentralized, AI-powered insurance claim processing platform that aims to revolutionize the insurance industry. By leveraging blockchain for transparent and immutable claim data storage and smart contracts for automated disbursements, SecureSure ensures fast, reliable, and secure claim settlements. Generative AI models analyze claim data to detect patterns of fraud, allowing insurers to make data-driven decisions and reduce potential losses due to fraud.
Decentralized Claim Data Storage: Stores claim data securely on blockchain, ensuring transparency and immutability.
Smart Contract Automation: Smart contracts manage the disbursement process, releasing funds automatically for approved claims.
AI-Powered Fraud Detection: AI models analyze claim patterns and assign fraud likelihood scores, providing insights for quicker decision-making.
User-Controlled Data Management: Users have control over their data, with access to their claim history in a secure, transparent environment.
SecureSure offers an end-to-end solution that transforms claim processing by:
Enhancing Transparency: Blockchain storage ensures all claim data is transparent, immutable, and easily verifiable.
Accelerating Claims Settlement: Smart contracts streamline the claims process, automating fund disbursement for approved claims.
Improving Fraud Detection: AI models analyze patterns in claim data to detect potential fraud, safeguarding insurers from high-risk payouts.
Empowering Users: Decentralized storage and user-controlled access ensure claimants and insurers have reliable access to their claim histories.
Frontend: ReactJS
Backend: Flask (Python)
Blockchain: Ethereum
Database: IPFS for decentralized claim data
AI/ML: Gen AI for fraud detection