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SPH in pilot to use blockchain to ease life insurance claims

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From left: Lumen Lab CEO Zia Zaman; SPH chief of digital business Julian Tan; and NTUC Income COO Peter Tay. Lifechain, developed by LumenLab, will allow SPH to securely encrypt and share data used for obituary placement with Income to search for a matching life insurance policy. If a match is found, SPH will inform family members and Lifechain will auto-notify Income to initiate the claims process.

Singapore

SINGAPORE Press Holdings (SPH), NTUC Income (Income) and global life insurance company MetLife's innovation centre are piloting from this month an industry-first initiative to automate life insurance claims for bereaved families using blockchain.

Lifechain, developed by...