Insurance Industry Savings: Distributed Ledger Technology Apps And Blockchain

New research examined the way a consortium-based blockchain approach using distributed ledger technology (D.L.T.) applications could save the insurance industry millions every year.

The analysis was conducted by the Institutes RiskStream Collaborative.

The Institutes RiskStream Collaborative analysis examined the way taking a consortium-based approach to blockchain and distributed ledger technology could help two events in common within the property and casualty insurance sector.

Those events are: first notice of loss following an incident and proof of insurance. Those two events both apply to auto insurance products.