Blockchain and Insurance - New Technology New Opportunities

Overview: Benefits should encompass better KYC/AML, fraud mitigation, reinsurance, new parametric and peer-to-peer products, and more automated claims-handling. This report provides but a sample of the work that is being done and the ideas that are being explored in the realm of insurance and blockchain. Examples of implementation demonstrate the speed at which theory is becoming practice and the role that some important insurers are already playing in this space. Insurers in Ireland and elsewhere have much to gain by engaging with blockchain technology