The insurance industry is adopting blockchain technology as a lever to redefine processes and improve efficiency. There are multiple use cases of blockchain adoption in insurance, including the broker-insurance marketplace, claims tracking, and customer data management. With these use cases, the industry is effectively moving from the hype phase to pragmatic business value, with some showing early signs of blockchain business value realization. Enterprise investments in blockchain technology were at an all-time high in 2018, and we expect them to more than double in 2019.

In this report, we have analyzed 30+ blockchain case studies to understand the blockchain adoption journey in the insurance industry. We have identified and listed 10 use cases across the insurance industry to offer proof points of blockchain adoption. This report suggests that insurers will need to partner with blockchain ecosystems to scale beyond POCs.

The report provides a roadmap for blockchain adoption in insurance enterprises, enabling readers to extract maximum value by studying current value delivered and building pragmatic hypotheses of potential value. It offers a description and analysis of the blockchain technology landscape and helps identify potential partners by business use case. The report also highlights the challenges that insurers face along their blockchain adoption journey and the ways to overcome them.

CONTENT

• Everest Group "BINGO" framework for blockchain adoption
  • B: Business value articulation
  • I: Invest in the right use case
  • N: Network effect for scaling blockchain
  • G: Guide to technology investments
  • O: Overcome challenges
• Blockchain use case compendium

Membership(s)

Insurance - IT Services (ITS)