The P&C insurance industry’s potential game changer

Capgemini just published an article describing how InsurTech firms are now coming up with innovative offerings based on blockchain technology. “From homes to vehicles, property and casualty insurers handle multiple types of policies.  The process involves a lot of data entry at multiple touchpoints and coordination between different parties. Combining data from various sources and then seamlessly and securely sharing it with multiple stakeholders is a challenge for insurance firms. Blockchain technology, however, allows policyholders and insurers to digitally track and manage policies, and physical assets, and codify business rules and automate claims processing through smart contracts while providing a permanent audit trail.” Link