February 2025
Intermediate to advanced
512 pages
13h 16m
English
book
Generative Artificial Intelligence in Finance
by Pethuru Raj Chelliah, Pushan Kumar Dutta, Abhishek Kumar, Ernesto D. R. Santibanez Gonzalez, Mohit Mittal, Sachin Kumar Gupta
Content preview from Generative Artificial Intelligence in Finance
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18Insurance Disruption: Analytics on Blockchain Transforming Indian Insurance Industry
Swati Gupta1* and Ruchika Rastogi2
1Universal AI University, Maharashtra, India
2Department of Business Administration (MBA), PSIT, Kanpur, India
Abstract
Blockchain data are immutable, accessible, transparent, agile, and secure. Blockchain technology’s “trust” and reliable connected mechanism can benefit the insurance industry. This chapter examines how blockchain will change insurance. The chapter describes how blockchain technology is used in insurance from a business perspective. The Indian regulatory authorities’ use of fintech and blockchain analysis in their regulatory processes is being questioned. Blockchain insurance literature inspired the chapter. Descriptive research examines blockchain technology’s cause-and-effect relationship. Many publications have discussed blockchain’s use in other industries, but insurance has not. This paper will explain “blockchain insurance” by explaining blockchain’s basic concepts and technological advantages, reviewing insurance companies’ research and applications of blockchain, and highlighting several key problems insurance companies face when applying blockchain. This chapter shows blockchain insurance’s commercial and regulatory states. Despite being based solely on a literature review, academics, regulators, and industry stakeholders have evaluated fintech and blockchain technology from many different perspectives. Based on these factors, ...
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