Industries / Insurance

Price risk and settle claims on verified facts.

Insurers make promises based on what customers tell them, and pay claims based on what they can verify. Permissioned answers close the gap between the two, for honest customers as much as against fraud.

Talk to us How the exchange works

Use cases

Outcomes for insurance.

Outcome 01

Settle genuine claims sooner

Today: Adjusters spend most of a claim’s life chasing documents to confirm facts that another institution already holds.
With OpenCheque: With the claimant’s permission, ask the institution that holds the fact. One answer replaces a folder of paperwork.

Shorter time from claim to payment
Adjusters focus on the claims that need judgement
Honest claimants are not treated as suspects

InsuranceAnswers only

InsurerCustoms

“Was a shipment under this declaration cleared on the stated date?”

Yes

Consent initiated by the insurer

Illustrative example.

Outcome 02

Price commercial risk on real trading activity

Today: Underwriters rely on declarations they cannot test, so careful businesses subsidise careless ones.
With OpenCheque: At quote or renewal, ask customs how many shipments are attributed to the business.

Premiums that reflect actual activity
Smaller businesses without audited accounts become insurable
Less misrepresentation at inception

InsuranceAnswers only

InsurerCustoms

“How many shipments are attributed to Company X?”

47 shipments in the last 12 months

Consent initiated by the insurer

Illustrative example.

Outcome 03

Catch duplicate and staged claims before they are paid

Today: The same loss is claimed from more than one insurer, and no insurer can see the others’ books.
With OpenCheque: Ask another insurer a narrow question about the same asset and incident, without building a shared claimant database.

Duplicate claims surface before payment
No central database of claimants
Unfounded suspicions are cleared quickly

InsuranceAnswers only

Insurer AInsurer B

“Has a claim been paid on this asset for this incident?”

Illustrative example.

Outcome 04

Keep the book clean from the point of sale

Today: Ghost broking and impersonation put policies on the book that were never genuinely bought.
With OpenCheque: Confirm with the bank that the premium came from an account in the policyholder’s name.

Ghost-broked policies caught at inception
Fewer disputes and voided policies at claim time
Cleaner data for pricing

InsuranceAnswers only

InsurerBank

“Was this premium paid from an account in the policyholder’s name?”

Yes

Illustrative example.

Use cases and answers are illustrative. Every offering is agreed with the provider and depends on the applicable law, contracts and permissions.

Your role

Two ways to take part.

As a subscriber

Ask for the answers you need.

Claims verification
Commercial and marine underwriting
Counter-fraud investigations
Broker and agent due diligence

As a provider

Publish the answers you can give.

Whether cover was active on a given date
Claims-free period confirmation
Verified identity-attribute correspondence

Other industries.

Banks

Reduce risk, improve customer outcomes, and unlock trusted collaboration.

Fintechs

Scale with confidence through trusted data partnerships.

Telecoms

Combat financial crime across wider ecosystems.

Public sector

Build safer, more inclusive communities with trusted insights.

Insurance

Tell us the outcome you need.

We will show you the question that gets you there, who could answer it, and how it would run on the exchange with your systems as they are today.

Talk to us

Trust isn’t a feature.
It’s infrastructure.
OpenCheque