Provacy

About: A claims and evidence management system based on blockchain and incentives.

My Role: UI Designer

Problem: Five out of ten insurance claims paid by insurers are fraudulent. This results in billion-dollar losses for the entire industry on a global scale and increasingly expensive insurance policies for users.

Solution: A frictionless automated insurance contract system to make insurance management easier, more efficient, and reliable.

How it works: The client requests an insurance policy, then initiates a claim. The claim information is stored in a smart contract. Information provided by the client is verified using artificial intelligence and past records, etc. Once verification is successful, the client’s claim is settled, and the claim details are stored on the blockchain.

Reflection: Provacy came with the specific need to redesign its UI by adding some frames and improving the aesthetics of its digital product. It’s a simple, efficient flow with the potential to have a massive impact on the Insurtech industry by leveraging the full potential of blockchain technology and AI.