A new market study report by Absolute Markets Insights on the Blockchain in Insurance Market has been released with reliable information and accurate forecasts for a better understanding of the current and future market scenarios. The report offers an in-depth analysis of the global market, including qualitative and quantitative insights, historical data, and estimated projections about the market size and share in the forecast period. The forecasts mentioned in the report have been acquired by using proven research assumptions and methodologies. Hence, this research study serves as an important depository of the information for every market landscape. The report is segmented on the basis of types, end-users, applications, and regional markets.
The Blockchain in Insurance Market sample report includes an exclusive analysis of COVID-19 pandemic on the market space under scrutiny. The sample represents the format of the overall study which is designed to provide clarity on the structure of the report and some data points demonstrated in an attempt to provide insights into the study quality. Furthermore, the Blockchain in Insurance Market full research study is designed on account of the fact that each segment is individually assessed and then collated to form the whole market, the study can be tailor-made to fit your exact requirements.
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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.
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
Highlights the following key factors:
- Business description-A detailed description of the company’s operations and business divisions.
- Corporate strategy – Analyst’s summarization of the company’s business strategy.
- SWOT Analysis-A detailed analysis of the company’s strengths, weakness, opportunities, and threats.
- Company history – Progression of key events associated with the company.
- Major products and services-A list of major products, services, and brands of the company.
- Key competitors – A list of key competitors to the company.
- Important locations and subsidiaries – A list and contact details of key locations and subsidiaries of the company.
The Blockchain in Insurance Market research study is designed keeping in focus all the major countries. Although, all these countries & their market trends were accounted for while composing it, detailed sections are available for only the spearheads. In case if you would be interested in specific countries which are not covered in the current scope, kindly share the list & we can customize the study based on the geographical scope defined by you.
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