6 Uses For Blockchain In Insurance

Blockchain technology is "revolutionary" for a lot of industries, including insurance. That’s according to the Blockchain in Insurance: Progress and Plans report from SMA partner Mark Breading, released this month. Breading surveyed insurers on their familiarity with blockchain, and their view of its potential. Following are the top six applications respondents provided: The emerging peer-to-peer insurance model, where insureds group themselves by particular affinity groups, is the leading blockchain opportunity cited by P&C insurers. Two-thirds of P&C insurers cited it, as well as nearly one in four life and annuity carriers.