Blockchain could “eliminate” the need for brokers
DAC Beachcroft report predicts blockchain impact, another IPT rise and increased focus on corporate governance for brokers.
Brokers could be eliminated from some parts of the insurance distribution chain if blockchain is used to implement what is known as smart contracts.
According to a report by DAC Beachcroft blockchain/smart contracts can be used to automate digital claims.
The report, Insurance Market Conditions & Trends 17/18, stated: “They can automate the claims process, enabling digital claim submission (via sensors or internet-connected data sources) and processing (eliminating the need for brokers and
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- RSA confirms trading structure ahead of NIG integration
- In Depth: Cyber risk and AI – friend or foe?