Summary of The First All-Blockchain Insurer

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Rating 

8 Overall

8 Importance

9 Innovation

8 Style

Recommendation

The potential advantages of blockchain – along with its capacity for disruption – have attracted the attention of the financial services industry, and the insurance sector is no exception. In this succinct summary, professionals with the Boston Consulting Group spell out the pros and cons of the technology for the insurance sector. Can insurers get past their reluctance to share data to benefit from blockchain? getAbstract recommends this expert overview to insurance executives and technology managers.

In this summary, you will learn

  • How the insurance industry could benefit from blockchain,

  • Why insurers are hesitant to adopt the technology and

  • What obstacles stand in the way of the industry’s move toward blockchain. 

 

About the Authors

Roberto Bosisio et al. are senior executives with the Boston Consulting Group.

 

Summary

Insurers have been looking for a better way to process the vast amounts of information they accumulate. Some firms are looking to blockchain as a possible answer. The technology could cut costs and add at least $200 billion to the margins of global property and casualty insurers. The technology offers the insurance industry seven advantages:

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