Fidelidade Insurance Challenge


Proposed by

FidelidadeFidelidade is the leading market insurer in Portugal, both in life and non-life, with a market share of around 27.7%. The company is present in the various insurance business segments and benefits from the largest network in Portugal, with a presence in several countries, namely Angola, Cape Verde, Mozambique, Spain, France and Macau.


Winning project

The solution presented by Multicert is based on the creation of insurance for a single sporting event, such as a half-marathon, for example, that the participant can do. The winning team presented an automation and simplification of the network operation necessary for this type of insurance can be sold.

The winning solution is based on the concept of smart contracts, with a predefined set of parameters and validations that enable the elimination of human actors in the analysis and decision phases.

Finalist Project

The proposed idea corresponds to the SIS ^ 1 platform aimed at collaborative short-term insurance management, based on blockchain technology and smart contracts, considering distributed and collaborative processing by all elements of the network. This solution has the potential to considerably transform traditional claims and claims participation processes, and enables the adoption of disruptive business models with a high level of automation and fraud prevention.



Challenge A: One-time insurance for sporting events ("closed" challenge that addresses a specific need of the Fidelidade business).

The increasing supply and accessibility of generic sports events, accompanied by widespread motivation for its practice by the general population, creates a relevant opportunity for an innovative positioning by insurance companies, available to cover the risks of accidents of the participants.

The aim of this challenge is to stimulate the development of a Blockchain network that allows the rapid and pragmatic subscription of these products, guaranteeing the participation of several nodes at the level of a) organization, responsible for recognizing the participants; b) entities certifying the claim in the field and c) the participants themselves; and d) the Insurer itself. In this solution, the following should be guaranteed:

  • The subscription processes (upon registration or until a period before the date of the event);
  • The recognition of participation in the event or the cancellation in case of cancellation or no-show;
  • The creation of sinister;
  • Recognition by the various parties;
  • Deferment and payment or rejection.


Challenge B: Parametric Insurance ("open" challenge that responds to a need in a particular area of the Sector).

In the current context there are a set of parameters that surround us and whose events that trigger us are also univocally recognized by the various parties. The aim of this challenge is to create a parametric insurance model, taking advantage of the ability to monitor online risk based on parameters and Blockchain recognition of triggered events.


More information on the Challenge

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