Bauxy simplifies claim processing related activities between customers and insurance companies for the American optic industry

Country: USABauxy
Year: 2014

  • Streamline current digital offers by client processes: using Bauxy best practices to inspire and refine an insurance company’s offers. 
  • Provide B2B Bauxy-like claims processing offer: to complement current digital insurance offer. An insurance company could take control over the processing part, and leverage on it to increase customer satisfaction and reduce costs by using blockchain to automate claims processing, meaning that the insurance company would be an oracle to certify claims.
  • Develop niche offers: an insurance company could develop similar niche offers in specific geographic areas.

Concept

  • Bauxy simplifies the insurance process for optic policyholders by taking care of the time consuming and paper services such as claim and refund processing.
  • Focused on the US optic market, Bauxy serves customers who have bought glasses or contact lenses from their own pocket, or have recently visited an optician.
  • In the US, customers’ vision insurer may be different from their general medical insurer or customers’ may often have a separate plan. In order to benefit from Bauxy, the customer must have vision insurance with an out-of-network provider, in other words not included in their health insurance plan.
  • Unlike traditional claims processing services, Bauxy’s claim service is paper-free: the company only requires a picture of the bill for verification purposes.

Consumer Benefits

  • Simplified claims: the online process reduces paperwork and processing time.
  • Secure: everything is safely encrypted and the user signs electronically to verify the claim.
  • Customer satisfaction: by boosting claims services Bauxy aims to improve customer satisfaction and communication between insurer and customer.

How it works

  • On the site, the user makes a claim by filling out their personal details and the name of their insurer. Then, the user takes a picture of their itemized bill and uploads it to the site. The user then signs electronically using their mouse or keypad
  • The status of the claim can be checked anytime during the process by emailing Bauxy. Processing the claim usually takes between 10-15 days. As soon as the claim has been processed, the customer gets paid by their insurer. This last step takes between 7-10 business days

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Illustration

  • Click on the video to discover how it works

https://www.youtube.com/watch?v=d6RTSCrWSD4

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