Win-win insurance
is when you get:
— instant claim payment
— fair and transparent dealing
— friendly prices
Socratus
Сomplex of front-end & back-end solutions developed together with insurance companies, financial institutions and data providers
We create
Digital platform with instant claim payment products for insurance companies (white label) & fully digital insurance company for consumers
We developed WIN-WIN solution: platform for insurance companies with
instant claim payment products
Moments from accident
to claim payment
Automated verification/
proof of the accident
1
2
3
Instant Claim Payment
Insured accident
Automated Socratus replaces standard manual claiming procedures:
Takes decisions to pay or not to pay
Calculates the amount of claim
Executes the payment
For consumers
For insurance companies

  • Operating expenses
  • Claims management
  • Product developmen

    • Data analytics
    • New insurance products
    • New customer segments penetration
    Developing business:
    Benefits
    • No annoying personal communication with
      Insurance company
    Saving time & money:
    • Instant claim payment
    • Lower premiums
    • No need to collect
      a bulk of document
    Saving costs:
    Implemented documentary flow is in line with Insurance regulations
    Lower expenses from 15% to 25% on claims handling and operational expenses
    Insurance сompany
    Insured
    Buying
    Policy
    The fact
    of accident
    Receiving automated
    payment
    Applying documents
    Receiving documents
    Analyzing of the documents
    Verification of the documents
    Request additional docs
    Applying additional docs
    Sending for payment
    Payment
    Insurance
    without Socratus
    Insurance
    with Socratus
    Collecting documents
    The fact
    of accident
    Buying
    Policy
    Insurance company does not waste time and money for claims handling
    E-commerce
    Property
    Flight delay
    Logistic
    Weather
    Motor- owned Damage
    Life-style digital insurance products
    Cyber Insurance
    Personal accident
    Payment protection
    Insurance
    ... and other
    How it works: Socratus instant claim payment


    1
    Customer buys policy in
    Insurance company or agents.
    Smart-contract starts to work.



    2
    With the first Policy
    customer gets login
    and password to
    access his profile.


    3
    Customer informs insurance
    company about accident
    through its web site
    or application


    4
    Smart-contract gives the signal
    to Oracle to check the accident.
    Oracles turns to verified data
    provider.


    5
    In case of confirmation
    of the accident Smart-contract
    sends the signal to send money
    to the costomer.



    6

    Smart-contract executes
    the payment. Smart-contract
    is closed.



    Left
    Right
    1
    Customer buys
    policy in Insurance
    company or agents.
    Smart-contract starts
    to work.


    2
    With the first Policy
    customer gets login
    and password to
    access his profile.


    3
    Customer informs insurance
    company about accident
    through its web site
    or application


    4
    Smart-contract gives
    the signal to Oracle
    to check the accident.
    Oracles turns to verified
    data provider.


    5
    In case of confirmation
    of the accident Smart
    -contract sends the
    signal to send money
    to the costomer.



    6

    Smart-contract executes
    the payment. Smart-contract
    is closed.



    Left
    Right
    Win-win insurance powered by Smart-contracts & Socratus Oracles
    • No more solo human decisions to pay or not to pay
    • No more lingering manual claims handling procedures
    SMART-CONTRACT
    is a program code that replaces standard agreement, issues and executes insurance policy in blockchain
    ORACLE
    is a program code, that sends verified data to the smart-contract upon accident
    Any insurance company can connect the platform to become the part of Insurance Digital Ecosystem
    The platform combines into ecosystem:
    - insurance company, its agents and customers
    - automated block for the verification of the facts of the accidents
    - block for instant claim payment
    Leave an application today to start ripping benefits of Socratus platform
    Sign up to be the first users of the new products at launch day
    Special offer
    For Insurance company
    For consumers
    Become the first Socratus digital insured customers
    We will inform you as soon as Socratus is available in your country
    It's totally free
    Join Platform Socratus
    We will contact you shortly
    It's totally free
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