Blockchain: An Emerging Digital Platform for Insurers

Blockchain: An Emerging Digital Platform for Insurers

  • Products Id :- VF0087IA
  • |
  • Pages: 23
  • |
  • |
  • |
  Request for Sample Report
  Request A Quote

Executive Summary

Blockchain is a distributed ledger that is broadly discussed as a technology with huge innovation potential in all areas of financial services. To date, it is largely in the banking arena where blockchain use cases have been identified. However, blockchain technology also offers potential use cases for insurers, including innovating insurance products and services for growth, increasing effectiveness in fraud detection and pricing, and reducing administrative costs. In these application areas insurers could address some of the main challenges they are facing today-such as limited growth in mature markets, and cost reduction and regulatory pressures. The implementation of blockchain is a long-term project as it largely depends on network/system effects as well as on defining the regulatory conditions. In addition, before initial implementation steps are taken the benefits and limitations of the technology need to be fully addressed and understood. Considering all of this, and with many other financial services investigating its prospects, now is the best time for the insurance sector as a whole to further explore blockchain technology and its potential.

Key Findings

Blockchain ultimately provides access to secure, decentralized transactions, offering an improved basis for non-repudiation, governance, fraud prevention, financial and personal data, and reporting.

Insurers see blockchain as an opportunity to integrate the ecosystems of trusted third parties to reduce the costs of their global platforms, improve customer and market reach, and develop new propositions.

Blockchain provides more scope for insurers to maximize governance through improved data access, third-party controls, and more sophisticated management of the risks associated with their products and services, including resilience services and cyber insurance.


Verdict Financial's "Blockchain: An Emerging Digital Platform for Insurers" provides an in-depth analysis of blockchain technology and its potential application to the insurance industry. The report discusses how blockchain could revolutionize many of the long-standing systems and processes within general insurance, and how insurers could benefit from the characteristics offered by the tech. The brief also provides an overview of the limitations of blockchain and the challenges insurers are likely to face going forward.

Reasons To Buy

Gain a detailed insight into the functions of blockchain technology. Discover how blockchain could be applied to general insurance, including the potential benefits and limitations.

Be informed of the insurers investing in the technology and looking to develop blockchain-centric propositions in the coming years.

Read More

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications



Blockchain is both an opportunity and a threat to insurance

Key findings

Critical success factors


Introduction: what does blockchain technology mean for insurers?

Blockchain is a tagging system designed to prove the time, integrity, and identity of data

The evolution of blockchain is redefining certain aspects of the insurer business model

The evolution of blockchain presents new technical dynamics for insurers

Keyless signatures assist in the authentication and preservation of claims

Blockchain could provide a means to manage claims in a transparent manner

Insurers are looking beyond algorithms to establish a customer-focused claims model


There are three main areas of opportunity for insurers in the use of blockchain

Fraud detection and risk prevention are the primary solutions for the industry

Collaborating with payment systems developers would help expand market knowledge

Blockchain technology offers a new level of cyber resilience

Investments in digital tech are becoming more commonplace among insurers

AXA is considering the integration of blockchain technology into its business practices

Aviva has partnered with Plug and Play to help transform ideas into products

Blockchain's potential presents the use case for innovative smart insurance contracts


There are limitations insurers must consider before applying blockchain

Blockchain: An Emerging Digital Platform for Insurers


Abbreviations and acronyms


Big data


Primary and secondary research


Further reading

About Verdict Financial


Figure 1: Blockchain was initially designed to facilitate the transfer of currencies

Figure 2: A full audit trail of transactions in a blockchain makes transaction fraud difficult

Figure 3: Keyless signatures are used to verify electronic data stored in the blockchain

Figure 4: Some versions of blockchain technology offer insurers advanced cyber coverage

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License:
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to sales [@]

Aviva, AXA, Allianz, Generali, Everledger.

Blockchain, technology, efficiency, transparency, risk, distribution, claims, fraud, data, invest.

select a license

Single User License
USD 1295 INR 87348
Site License
USD 2590 INR 174696
Corporate User License
USD 3885 INR 262043



An excellent provider. Thorough, precise and outstanding insight. They drill down to what we need and their reports are effective at integrating text with supporting graphics and charts. Their reports are a great resource to go back too. ...

Coherent, high-quality, thoroughly-researched reports. We received a very quick response to all our queries which eventually expedited the entire process....

Well structured, the insights they shared with us were very helpful and reliable. Their timely assistance make their services invaluable to us. I would highly recommend them and would definitely use them again in the future if needed...

The report sent to us was on the point, and its information was quite extensive, well structured, and well researched. More importantly what we valued was your response time and professionalism. As a leading global consulting firm, our clients expect high quality deliverables in short periods of time, so a reliable research partner is essential. For the price that you have charged the quality of your services were exceptional. We look forward to continue our relationship with your team on future engagements....

This is with regards to your report on India PVC pipes and fitting market outlook industry outlook to 2019. This is a very well written report and accept my compliments on the same.... ...

Ken Research Pvt. Ltd. Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49
     Gurgaon, Haryana - 122001, India


Company Brochure

Engage with Us

sales [@]