Blockchain insurance for Unemployment Qorus Innovation in Insurance Awards 2020 - Winner

A first of a kind Blockchain based solution used in claims to support our customers in stressful times of job loss. The solution combines assets from the Swedish Public Employment Service, from the startup Stratumn providing the Blockchain technology and from AXA. With the consent of its customers, AXA Partners managed to deliver a smart contract that secures and automate unemployment insurance payments. 6 months after the launch, we are observing very positive customers verbatim with 50+ point increase in NPS, 0 fraud and enhanced efficiency. Our goal has been achieved: maximizing the chance to recover a job by avoiding losing time in unnecessary administrative tasks and being a responsible insurer with efficient new solutions thanks to Open Innovation. We have now deployed the solution in Sweden and are considering an extension of the service to 5 other countries in Europe.