March 13, 2020

How Blockchain Is Transforming The Insurance Industry

Blockchain in Insurance Market Summary:

The global blockchain in insurance market is estimated to reach USD 1.7 Billion in 2024 at a CAGR of 78.7%. Increasing transparency and security, increasing the efficiency and accuracy for billing and settlement processes, and rising in the adoption of supply chain market expected to drive the blockchain in insurance market. However, limited scalability for public act as a restrain to the market during the forecast period. Increasing growth of digital identification and impact of artificial intelligence in BFSI sector is identified as an opportunity for blockchain in insurance market.

Blockchain is a shared and immutable ledger for capturing the transactions, building the trust, and tracking the assets. Blockchain in insurance are used for record the transactions, for faster processing of data, and for the security. Some key players in blockchain in insurance IBM Corporation, Oracle Copropration, Microsoft Corporation, Amazon Web Services, Inc., SAP SE, Earthport PLC., Interbit, Bitfury Group Limited., Digital Asset Holdings, LLC and Factom among other.

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Blockchain in Insurance Market: Report Scope

The report on the blockchain in insurance market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Blockchain in Insurance Market: Report Synopsis

This market research report offers a comprehensive analysis of key market trends in the global blockchain in insurance market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks. On the basis of solution, the market is segmented into customer centricity, business networks, responsive workforce, profit and risk control and finance, investments, and compliance. By type the blockchain in insurance market is segmented property and casualty insurance, microinsurance, peer-to-peer insurance, parametric insurance and others. By application the market is segmented into fraud prevention, risk prevention, data security, payment, digital identification and others.

Blockchain in Insurance Market: Report Segmentation

For the scope of report, In-depth segmentation is offered by Forencis Research

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BLOCKCHAIN IN INSURANCE Market, by Solution

  • Customer Centricity
  • Business Networks
  • Responsive Workforce
  • Profit and Risk Control
  • Finance, Investments, and Compliance

· Blockchain in Insurance Market, by Type

  • Property and Casualty Insurance
  • Microinsurance
  • Peer-to-Peer Insurance
  • Parametric insurance
  • Others

Blockchain in Insurance Market by, Application

· Fraud Prevention

· Risk Prevention

· Data Security

· Payment

· Digital Identification

· Others

Blockchain in Insurance Market by, Region

Asia-Pacific

  • China
  • Japan
  • South Korea
  • India
  • Taiwan
  • Rest of Asia-Pacific

North America

· US

· Canada

· Mexico

Europe

· Germany

· Russia

· France

· Italy

· UK

· Spain

· The Netherlands

· Rest of Europe

· Middle East and Africa

· Saudi Arabia

· UAE

· Rest of Middle East & Africa

· South America

· Brazil

· Argentina

· Rest of South America

Key Companies

· IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)

· Microsoft Corporation

· Oracle Corporation

· Amazon Web Services, Inc.

· SAP SE

· Earthport PLC

· Interbit

· Bitfury Group Limited.

· Digital Asset Holdings, LLC

· Factom

· Other Key Companies

Key Questions answered by the report

· What are the major developments impacting the blockchain in insurance market and its growth?

· What will be the effects of the developments in the blockchain in insurance market on the industry and on the market players in the near and far future?

· What are the evolving types of the blockchain in insurance market?

· What are the evolving applications of blockchain in insurance market?

· What are the major characteristics that will affect the blockchain in insurance market growth during the study period?

· Who are the key players operating in the blockchain in insurance market?

· How are the major players leveraging in the existing market conditions?

Report Audience

· Blockchain in Insurance Market Providers

· Blockchain in Insurancemarket Solution and Services Suppliers, Distributors, And Dealers

· End-Users of Varied Segments of Military Communication market

· Government Bodies and Intellectual Institutions

· Associations and Industrial Organizations

· Research & Consulting Service Providers

· Research & Development Organizations

· Investment Banks & Private Equity Firms

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