Get Inspired with Conclave!

As you all may know, Conclave is a platform to build applications that securely share and analyze data. Organizations with Conclave can build privacy-enhancing applications. These are applications that process data from multiple parties to solve industry-level problems, protect customer data from misuse by assuring that data is protected when collected, shared, and analyzed, and open up new possibilities to collaborate with new shared data services.

The following is a current use case of Conclave in the insurance industry:


$40bn in annual insurance fraud in the US alone according to by FBI, a 1/3 of actual fraud is estimated to be detected, according to research by KPMG, and 5-10% of insurance fraud is related to “double-dipping” fraud.

Double-dipping is a form of insurance fraud that occurs when one entity files a claim with multiple insurers for the same event. It exploits the fact that insurers’ fraud detection systems have no way to share data about a claim with other insurers. The data gap is founded on privacy concerns. On the business side, insurers are reluctant to share data with competitors; on the client-side, GDPR restricts the transferal of personal data.

To date, there hasn’t been a technology that reliably enables insurers to share claims data, while retaining full control of that data. Some jurisdictions have attempted to use centralized databases for this issue. But these are limited to one state or country and create a single point of failure. Insurers are turning away from centralized solutions as they struggle to comply with increasingly stringent privacy regulations.


ClaimShare is a flagship product from global technology vendor IntellectEU that enables insurers to identify “double-dipping” fraud. It is the world’s first solution for this problem, leveraging R3’s trust technology.

The solution uses both Conclave and Corda Enterprise to enable insurers to confidentially aggregate data using a shared record of truth. This introduces a novel way of collaborating and securely sharing data. The enclaves used by confidential computing protect at the hardware level and are more reliable and scalable than other encryption-based solutions for IntellectEU’s matching algorithm. This led IntellectEU to Conclave, as it allows developers to easily build privacy-enhancing applications that securely share and analyze data while it’s being used. When there is a suspicion of fraud, the private data linked to the claim is compared anonymously using Conclave.

In case of a match, the second payout can then be held back, and the regulator is automatically notified by both parties in real-time


ClaimShare is currently being trialed by several leading insurers. When implemented, IntellectEU expects ClaimShare to save insurers up to 10% of their overall fraud costs per insurance line. The response to ClaimShare from insurers and regulators has been overwhelmingly positive.

After winning the Corda and B3i Challenge: Insurtech 2020, ClaimShare was selected as the number one CorDapp of 2020 and featured in this recent IDC Market Perspective Report. Following this success, IntellectEU closed a Global Alliance Partnership with KPMG to take the product to market together. The two companies have been engaging with insurers and regulators in over 20 jurisdictions globally.

Use Case: Financial Crime and Compliance

A similar challenge is the case of financial crime, in which the current banking systems within their interbank relations don’t share data. They currently rely on their financial crime detection systems, in which they cannot share their client data with other banks.


Historical banks have relied upon limited internal information about a customer’s interbank relationships. This has several impacts on financial institutions today, such as:

  • Blind spots when building holistic risk profiles for accounts and related transactions.

  • Isolated Financial Crime detection systems are stymied in detecting advanced types of financial crime, a high number of false positives, and a high potential for false negatives.

  • Increased internal spending on financial crimes and compliance systems, with narrow benchmarks on the effectiveness of the bank’s risk management and operational effectiveness.

Results with Conclave

  • Increase the effectiveness of Financial Crime detection, eliminate false positives.

  • Maintain privacy and protection of sensitive client data, as no confidential data is exchanged