Blockchain Is Here. But Can Insurance Unlock Its ROI in Meaningful Ways? (Risk & Insurance)

Blockchain Is Here. But Can Insurance Unlock Its ROI in Meaningful Ways?

  Monday, September 18th, 2023 Source: Risk & Insurance

As blockchain technology matures and more players in the insurance industry integrate it into their operations, many are wondering what kind of return companies are seeing on their blockchain investments.

‘That’s a very difficult question, because I actually don’t think the insurance industry broadly is using much blockchain,’ said Siddhartha Jha, founder, chairman and CEO of Arbol Inc., a global climate risk coverage platform and FinTech company. ‘They’re still at a very early POC stage in many cases.’

David Edwards, founder and CEO at ChainThat, a London-based insurance technology provider, has a similar take.

‘For individual insurers and participants, there’s no benefits, in terms of the ROI for blockchain,’ Edwards said. ‘It must be done as a group, as a kind of a consortium, to get it going. And the only way really to get that going is to get them all to work together. That’s the biggest challenge that we’re still seeing in the insurance industry.’

  Read Full Article
SOS Ladder AssistMid-America Catastrophe ServicesHancock Claims Consultants LLCBullseye Adjusting & Associates LLC

  Recent Provider Listings

Nationwide
Arizona California Colorado Language Services, Translators & Interpreters
Serving the US
National Antiques Repairing & Restoring Art Restoration Fire & Water Damage Restoration
Serving the US
National Automobile Paintless Dent Repair Overspray Removal