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Blockchain-based Payout Panel

Ergo Hestia
Product & Service Innovation 2021

Elevator pitch

Using blockchain technology for instant premium refunds to customers without having to know their bank account number

Innovation Presentation

ERGO Hestia wanted a hassle-free, innovative solution to digitize a process of sending returns to their clients.

The challenge was the lack of information about the client's bank account number. In order to return premium leftover for unused policy period, we had either to contact clients directly to gather the information necessary to process bank transfer or perform postal money order.
This was not only cumbersome and cost-ineffective, but also didn’t create a digital experience for the customers.

We asked fintech - Billion Group - to provide us with a Payout Panel that enables easy, mass payouts to our clients. This solution using digital national currency enables us to send money to client's phone numbers, and makes the process o…

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