Our Insurtech Focus

Blockchain will optimize efficiency, security, and transparency for the entire insurance industry.

Blockchain can Disrupt the Insurance Industry

  • Event triggered smart contracts
  • Increased back-end efficiency
  • Disintermediation
  • Better pricing and risk assessment
  • New types of insurance
  • Reaching the underserved

Smart Contracts

Verify coverage between companies and reinsurers securely, allowing insurers to automate (through event triggered smart contracts) the claims function.

Enhanced Security

Fortified cybersecurity protocol allows only invited users to participate, see and use the information on that chain.

Cost Reduction

Disintermediation and increased back-end efficiency will automate payments payments between parties for claims leading to lower administrative costs for insurance companies.

Underwriting

Securing more robust and transparent risk data sets for underwriters while providing anonymity to policyholders resulting in accurately priced policies.

One sector that stands to reap the most rewards is reinsurance, which could potentially save up to $10B by using blockchain.

PWC

Blockchain can address the competitive challenges many incumbents face, including poor customer engagement, limited growth in mature markets, and the trends of digitization.

McKinsey

The greatest opportunity is harnessing blockchain’s unique attributes to create entirely new types of interactive policies and launch innovative services that add value and grow the business.

Deloitte

Both giant insurance carriers like Allianz and Swiss Re and tiny blockchain technology startups alike are leveraging blockchain solutions.

CB Insights