Blockchain in Insurance helps enhance trust and transparency among multiple parties without compromising on security and privacy. Blockchain ledgers and smart contracts enable insurance companies to agree upon and have a common view of claims, approvals, and customer services, which improves business through enhanced customer satisfaction.

TechSophy believes the following broad insurance categories can benefit from blockchain solutions


Transparent, reliable, and faster claims, approvals, and payments

streamlining agent

Streamlining agent functioning through transparency and accountability

audit regulatory compliance

Audit & Regulatory Compliance

fraud identification handling

Fraud Identification and handling


Aims at shadowing the functional workflow of the companies to document the conduct of parties involved based on smart contracts creation and execution. This Solution also would also facilitate in data analytics of the information collated on block chain. Transfer Pricing compliance is an instance of this solution developed for large customer.

  • Get the real time, verifiable data on the functional profile of entities
  • Find and Reduce Differences between Designed Process Flow and Actual Functional Flow
  • Monitor Violations and compliance of the process flow
  • Ensure Operation Audit validation by trusted regulatory bodies
  • Capture Functional profile of company and convert into Smart Contract
  • Shadowing the live Functional Flow on block chain and storing in the ledger
  • Diagnostic Review to capture Violations and weak points in the Process Flow
  • Ammend changes to flow and re-create the smart contracts
  • Learn process efficiency maps

Aims at continuous capturing Provider’s functional and cost centre parameters periodically and automatic calculation of costs allocated for a corresponding Provider-Recipient’s Intra Group Service agreement. This solution is developed for a large Tax Consultants.

  • Inter Company (Functional ) Segmentation
  • Tax Challenges (No Arguments)
  • Cost Analysis for both Recipient and Provider
  • Capturing Costs and Cost Allocation Parameters
  • Capture Provider’s functional and cost centre parameters in a smart contract along with recurring costs in immutable ledgers
  • Record Provider-Recipient’s Intra Group Service agreement in a smart contract
  • Analytics framework for instant access to costs, cost allocation methods, functional and cost centre structure, and various other parameters across a timeline.
  • Smart contracts as immutable agreements and block-chain ledgers as irrefutable evidence evaluates Benefit Test, Share Holder Activities and Arms Length Charge of the recorded agreements.

Supply Chain

Blockchain in Supply Chain can act as a common ledger for various parties involved in the supply chain. Apart from the ledger, enterprises that are part of the supply chain can validate the contracts between them (e.g. on the percentage of tolerance in the missing / lost / damaged parts, etc.) automatically.

TechSophy believes that blockchain can solve the following problems in Supply Chain
faster more accurate tracking

Faster and more accurate tracking of products and transportation detail


Detection of the source and root cause of theft and pilferage

third party integration

Independent and enhanced third-party integration

prediction process correction

Prediction and process correction to reduce the impact of environmental factors / disasters like hurricanes, etc.

Smart Contracts

Smart Contracts

In general, using smart contracts as part of our blockchain solutions, we can integrate commercial transaction and agreements automatically and transparently. It also enforces the obligations of all parties in a contract without the added expense of a middleman and thereby enables disintermediation.

TechSophy has a talented team that have written and executed smart contracts on multiple public, private, and permissioned blockchains. We believe enterprises that collaborate with third parties to serve their customers will migrate to blockchain based smart contracts. Techsophy offers solutions to migrate incrementally both in terms of their solution and in terms of integration with their partners.

TechSophy has built an internal team that is well versed with Ethereum based smart contracts and Dapps (using Solidity, Truffle, etc.), Hyper Ledger, etc.

Smart loans & Fintech

Blockchain in FinTech is well studied and well deployed use case. Blockchain can be used in FinTech in the following categories. While some of these categories need an industry wide adoption (e.g., KYC, etc.), there are some areas that can be independently implemented as FinTech block solution (Automated Transaction, Loyalty & Rewards, etc.).


Automated transactions


KYC (know Your Customer)

fraud detection

Fraud detection and Prevention

identity privacy

Identity, Privacy and Security

loyalty reward

Loyalty and Reward

Proof of Concepts

Given the nature of blockchain related frameworks, and tools, we believe blockchain technologies are still being tested on their ability to offer end-to-end solutions, their ease of deployment at scale, their efficacy, and finally their ROI. However, looking at the fast adoption of blockchain, TechSophy believes that enterprises that work on blockchain solutions or POCs will benefit both from a head start and in identifying the right solutions to be a market and a thought leader.

We believe we can work together with subject matter experts in various industries to adopt and deliver the value of a blockchain. Our approach is to work on solutions that are incremental with respect to their disruption (little or no disruption to existing services) and their deployment.

We look forward to working on a proof of concept with you by using our templates or solutions that we built on blockchain. We can deliver a quick PoC within 2-3 weeks once the scope of the blockchain implementation is freezed.