Blockchain in Insurance has the ability to help automate claims functions by verifying coverage between companies and reinsurers. It will also automate payments between parties for claims and thus lower administrative costs for insurance companies.
Blockchain’s shared ledger technology can move fraud detection forward by consolidating claims data across insurers. By facilitating better data sharing, blockchain technology can save insurers the expense of paying for public and subscription data to prevent fraud.
A smart contract refers to an insurance contract or cover that pays out when certain, predefined conditions have been satisfied.
In this section, we have collected the most current articles and reviews on the topic of the Blockchain in Insurance.
Tokenization, a blockchain-based technology, offers immediate value in these areas. It allows digital representation of asset ownership—whether stocks, bonds, cash, cryptocurrency, data sets
Tokenization is the process by which real-world assets are converted into blockchain-based tokens. Why do insurers need tokenization?
Changing technology affects everything from what we eat to how we pay for our meals. Have you ever considered how it is changing the insurance sector?
Smart contracts for digital insurers are getting a lot of attention these days. They offer a faster, safer, and less expensive way to provide cover
For the digital asset market, insurance has proved something of a conundrum. As the sector has surged in value, the need for coverage has grown, but it has not proven easy
Blockchain continues to be a hot topic in the business world and news. Many people have heard of blockchain but may not be familiar with what it actually is
While some employers may see using cryptocurrency as a way to differentiate themselves in attracting next-generation talent, there is also a case for caution in seeking creative ways to reward employees
Although blockchain offers enormous potential, it is not a silver bullet. Instead, it should be considered as part of a wider insurance digitization strategy
The wellbeing trends primarily address insurers that offer health and life insurance products. It is key for them to understand that, with new technologies in digital
Blockchains are typically managed by a peer-to-peer network for use as a publicly distributed ledger, where nodes collectively adhere to a protocol
