The new report on Global Blockchain in Insurance Market published by Absolute Markets Insights offers in-depth coverage of the industry and important Market trends with historical and forecast Market information, demand, application information, price development and shares from the leading Blockchain in Insurance company by geography. This report also studies Blockchain in Insurance Market status, competitive landscape, Market share, growth rate, future trends, Marketers, opportunities and challenges, sales channels and distributors. The report breaks down Market size by volume and value based on application, type and geography.
Major players operating in the global Blockchain in Insurance Market: Some of the players operating in the Blockchain in Insurance market are Amazon Web Services, Inc., AUXESIS GROUP, Bitfury Group Limited, Boston Consulting Group, BTL Group Ltd, ChainThat, Circle Internet Financial Limited, CONSENSUS SYSTEMS (Consensys), Deloitte Touche Tohmatsu Limited, Digital Asset Holdings, LLC, Everledger Ltd, Etherparty Inc, Factom, Guardtime, IBM Corporation, iXLedger, KPMG International Cooperative, Microsoft, Oracle, SafeShare, Symbiont.io and Willis Towers Watson amongst others.
For more information about this report visit @ https://www.absolutemarketsinsights.com/reports/Blockchain-in-Insurance-Market-2019-2027-179
Blockchain is anticipated to be the fuel for transforming the insurance industry. Currently, the insurance industry is facing several challenges including regulatory demands, fraudulent claims, and data management. The demand for tailored products and services is also on the rise. Patchwork solutions for these challenges with a closed-off information environment have resulted in perpetual operational inefficiencies. To combat these challenges by leveraging the blockchain technology, insurance companies are collaborating with each other as well as with blockchain technology experts. For instance, an industry-led consortium was formed in 2017 to explore the applications of blockchain in insurance with 40 members till date.
Blockchain solution providers are either focusing on disruptive solutions for industry-wide applications or on specific types of insurance. For instance, blockchain technology start-up Etherisc has developed a decentralized insurance protocol for flight delays, flight diversions or flight cancellations and operates on a public blockchain. The protocol almost automatically affects payouts via electronic fiat transfer to passengers upon landing, if needed. Whereas other companies such as Etherparty Inc., provide insurance products powered by smart contracts, which are capable of verifying claims through independent data sources across all insurance verticals. The Blockchain in Insurance market is expected to expand at a CAGR of more than 65.9% during the forecast period (2021 – 2030). The study analyzes the market in terms of revenue across all the major regions, which is further bifurcated into countries.
Blockchain in Insurance Market
- Applications and Platforms
- Infrastructure and Protocols
Blockchain in Insurance Market by Application
- Identity Management and Fraud Detection
- Claims Management
- Distribution and Payment Models
- Others (GRC Management etc.)
By Organization Size
- Large Enterprises
- Small and Medium-Sized Enterprises
Blockchain in Insurance Market by Insurance Type
- Life Insurance
- Health Insurance
- Property and Casualty Insurance
- Others (Travel Insurance, Vehicle Insurance etc.)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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