How can blockchain benefit the insurance industry?,
What is blockchain’s appeal?
Proof of blockchain’s popularity is evident, with $1.9 billion having been invested in 891 blockchain startups as of early 2017. You can read All Article by Insurance Guide
Unlike banking and capital markets, which have established exchanges that are particularly vulnerable to disruption by blockchain, insurance doesn’t have a natural exchange to which the technology can be applied—but that doesn’t mean it doesn’t promise to reshape the industry’s processes.
However, there are some obvious challenges. Insurers must develop and integrate the technology and connect all the relevant stakeholders that are involved in insurance transactions. Another factor is volume: in order to make a blockchain investment worthwhile, insurers must find a use-case with high-volume transactions.
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