Disruption in the Insurance Sector

Insurance sector: Fitch Ratings published a report on blockchain in the insurance industry (https://www.fitchratings.com/site/pr/10027624) in April 2018 which stated that the sector was “fertile ground for blockchain's capabilities. With the industry's large number of complex transactions between multiple parties, blockchain could theoretically offer significant cost reductions, improved processing speed, and enhanced underwriting and pricing, while reducing fraud. Efficiencies and cost reductions could be achieved by reducing the need for reconciliation and audits, automating certain processes and improving access to data."

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