Blockchain in Insurance - Thematic Research

This report provides an in-depth analysis of blockchain within the insurance industry. It identifies key players within the theme and discusses what they have done well to set themselves apart. The report also analyzes investments in the blockchain space, relevant mergers and acquisitions, as well as how blockchain specialists have influenced incumbent insurers.

Blockchain remains a nascent technology in the insurance industry. Much of the hype of a few years ago has died down, but it is proving to be a useful tool for insurers to improve efficiencies and cut down on admin time. It can also improve transparency and potentially help rebuild trust post-COVID-19 due to its immutable nature and ability to verify every aspect of the contract from both sides at the start. However, it is still largely being used experimentally by leading insurers. GlobalData forecasts that its growth across all industries will take off over the next decade, which should translate into increased usage across the insurance industry.

Scope

• GlobalData estimates that the global blockchain market will be worth almost $200 billion by 2030.
• Insurers are currently more likely to collaborate with blockchain specialists than develop in-house expertise or acquire companies.

Reasons to Buy

• Understand the impact that blockchain is having across a range of product lines.
• Benchmark yourself against the rest of the market.
• Ensure you remain competitive as new innovations and startups enter the market.