Blockchain in Insurance

Given its ambitious potential to drive simplicity and efficiency through the establishment of new financial services infrastructure and processes, this technology is rapidly gathering momentum within the insurance industry.

New insurance processes and business models built on blockchain will call into question current orthodoxies and challenge multiple pain points that are prevalent across the value chain.

Within underwriting, the technology can help reduce costs, improve risk assessment, and enhance client onboarding.

Similarly, the technology can fundamentally alter claims submission processes to reduce fraud and improve customer experience.