Blockchain in Insurance, 2019: A Market Overview

Blockchain technology is evolving rapidly, and insurers need to find partners now, according to the latest Aite Group research.

London, 6 March 2019  — Aite Group’s new report, Blockchain in Insurance, 2019: A Market Overview, explores how blockchain technology has started to affect the insurance industry and what might come next. Blockchain continues to gain momentum in the insurance industry as a potential solution for just about any problem. The trouble lies in identifying which problems blockchain is best suited for and how to begin implementing those solutions. A carrier must thoroughly vet a blockchain solution before taking any action to ensure that the solution best fits the problem, that the solution is viable and scalable, and that the technology will fit within the current scope of the carrier’s business model.

“If you are not already involved in a blockchain project, you need to start looking for opportunities to test the waters with a limited use case or low-impact proof of concept,” says Greg Donaldson, senior analyst at Aite Group.

This new Aite Group report helps insurance executives identify the best potential blockchain solutions that are being developed and prepare to incorporate those into the overall business process. Based on 40 phone interviews conducted with blockchain experts, C-level executives, innovation directors, and thought leaders at insurers, reinsurers, technology vendors, consulting firms, and venture capitalists around the world between October 2018 and January 2019, this report profiles 13 organizations and technology vendors: Accenture, B3i, Black Insurance, Blocksure, Change Healthcare (with Tibco), Civic Technologies, Everledger, Galileo Platforms, Guardtime, IBM, PencilData, Synechron, and TransUnion.

To request a press copy of this report or to speak with Greg Donaldson about this topic, please contact us at pr@aitegroup.com.

About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.

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