Blockchain has been all the buzz and last week, Cookhouse Lab kicked off our second project in our Blockchain series. During this four week sprint, the project will delve into group benefit coordination to produce a prototype using Blockchain technology to improve the coordination of benefits process.
The problem and what we have learned to date:
The group benefit coordination process occurs when a customer is covered by multiple insurance providers, requiring the customer to submit a single claim multiple times to receive their full coverage entitlement.
In Week One, the team worked together to develop a joint understanding of the current state journey, and pains felt by both the insurers and customers within. This led the team to their initial problem statements:
“As a customer, submitting extended healthcare claims when covered by multiple insurers is complicated and confusing. I am required to submit multiple times, often have to call in, and it takes a long time for me to get my money back.”
“As a second/tertiary insurer [in the Coordination of Benefits process] I don’t know whether the shared information in an EOB (Explanation of Benefits) is valid. This can lead to required resubmissions which result in higher effort, cost, and lower customer satisfaction.”
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- Build out the future state process
- Conduct customer testing and develop wireframes
- Gather requirements with our build partner, msg global solutions
- Develop the Blockchain prototype using Hyperledger technology
- The Co-operations
- Great West Life
Our project MVP will be unveiled in just two weeks! Continue to follow us on our co-creation and open innovation journey by subscribing to our blog and news updates.