Blockchain: A $200 Billion Opportunity In Insurance?

There are a number potential operational and economic benefits that blockchain technology could provide to the insurance industry, according to a new report from Boston Consulting Group. Globally, the P&C industry had more than $2 trillion in grow written premiums in 2016, according to the First All-Blockchain Insurer report. Blockchains could help the worldwide property and casualty insurance industry reduce its combined operating ratio by 5 to 13 percentage points, while generating more than $200 billion more in technical margin from the current level of growth in written premiums.