P2P Critical Illness Insurance on Blockchain/Smart contract How decentralized solutions bring transparency into health insurance

PROBLEM Inefficiencies The fast administration of Claims is not only a legal obligation of an insurance firm, but a strong public relations and marketing strategy. The problem of running an effective claims administration has remained too long in the insurance industry.

14 Insurance is expensive and lacks transparency PROBLEM Insurance is expensive and lacks transparency Insurers are less trusted commercials in the world ever Customers satisfied with current communications from insurer High transaction cost and commission makes insurance not affordable only 14 %

SOLUTION P2P (peer-to-peer) Idea to make insurance easier and more affordable for customers In the event of bigger claims, Sberbank Life Insurance company covers any amount that exceeds the coverage through the group Use shareconomy approach to create pool of customers for protection against cancer

BlockChain/Smart contracts SOLUTION BlockChain/Smart contracts Blockchain can improve customer engagement by providing a greater degree of transparency Blockchain can explain the structure of tariffs and claims’ handling Blockchain can enable the automation of claims’ handling Blockchain can reduce operation costs

WHY CANCER of total cancer cost are non-medical SOLUTION WHY CANCER of total cancer cost are non-medical No specific underwriting required Low risk of fraud Great social impact and customer protection Many basic health insurance plans don’t cover astronomical costs that could be associated with its treatment of a cancer diagnosis

How we managed MVP

SmartContract triggered BlockChain MVP SberCoin SmartContract Initiation SmartContract triggered Coins to Wallet Visual P2P Image Blockchain p2p visualization Client

SmartContract triggered BlockChain and Classic Claim Management in parallel SberCoin SmartContract Initiation SmartContract triggered Coins to Wallet Visual P2P Image blockchain p2p visualization Old fashioned policy Claim reviewed Claim approved Bank classical claim management (in tribute to regulations) Payment Smart Contract Oracle (Current Solution) Client

SmartContract triggered BlockChain Future SberCoin SmartContract Initiation SmartContract triggered Coins to Wallet Visual P2P Image Client Payment Smart Contract Oracle connected to HCM Database

TREE OF LIFE insurance visualization

TREE OF LIFE Tree is symbol of Sberbank Life Insurance insurance visualization Tree is symbol of Sberbank Life Insurance Tree is symbol of Sberbank Life Insurance

TREE OF LIFE Every client/policy is a new leaf on this tree insurance visualization Every client/policy is a new leaf on this tree Tree is symbol of Sberbank Life Insurance

TREE OF LIFE Leaves arranged into branches by company or city insurance visualization Every client/policy is a new leaf on this tree Tree is symbol of Sberbank Life Insurance

TREE OF LIFE When shit cancer happens with any leaf it fades black insurance visualization When shit cancer happens with any leaf it fades black

TREE OF LIFE When shit cancer happens with any leaf it fades black insurance visualization When shit cancer happens with any leaf it fades black Other leaves from the same branch or nearest branches send “energy of life” to support faded leaf

TREE OF LIFE When shit cancer happens with any leaf it fades black insurance visualization When shit cancer happens with any leaf it fades black Other leaves from the same branch or nearest branches send “energy of life” to support faded leaf Black leaf could send big “Thank you” back

TREE OF LIFE When shit cancer happens with any leaf it fades black insurance visualization When shit cancer happens with any leaf it fades black Other leaves from the same branch or nearest branches send “energy of life” to support faded leaf Black leaf could send big “Thank you” back Statistics of collected premiums, paid claims and reasons (unnamed diagnosis) are clearly shown on the tree

MVP RESULTS Fully transparent solution - Fully transparent tariffs P2P Insurance online infographics is comprehendible even for newcomers Provide new experience and engagement for users within the old industry like insurance New touch to such matters as: cancer, health protection and charity

1 Claim management FUTURE from diagnosis to money in the pocket: millisecond from diagnosis to money in the pocket: Fully automated integration with Russian Healthcare Ministry database Insurance payment at the same moment as the diagnosis is confirmed

Charity If there will be no claims submitted annually by Sberbank pilot customers, pool members will select either to continue their policy or to contribute to the fund that fights with child cancer. The process of charity fund selection will also be transparent thanks to BlockChain/Smart contracts mechanisms.

SPASIBO! March 2017 Moscow