News:Blockchain in insurance market is estimated to reach USD 1.7 Billion in 2024 a
Blockchain in Insurance Market: Summary
The global blockchain in insurance market is estimated to reach USD 1.7 Billion in 2024 at a CAGR of 78.7%, Observe by Forencis Research (FSR). Increasing transparency and security, increasing the efficiency and accuracy for billing and settlement processes, and rising in the adoption of supply chain market expected to drive the blockchain in insurance market. However, limited scalability for public act as a restrain to the market during the forecast period. Increasing growth of digital identification and impact of artificial intelligence in BFSI sector is identified as an opportunity for blockchain in insurance market.
Blockchain is a shared and immutable ledger for capturing the transactions, building the trust, and tracking the assets. Blockchain in insurance are used for record the transactions, for faster processing of data, and for the security. Some key players in blockchain in insurance IBM Corporation, Oracle Copropration, Microsoft Corporation, Amazon Web Services, Inc., SAP SE, Earthport PLC., Interbit, Bitfury Group Limited., Digital Asset Holdings, LLC and Factom among other.
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Blockchain in Insurance Market: Report Synopsis
This market research report offers a comprehensive analysis of key market trends in the global blockchain in insurance market. It includes detailed discussion on historical market trends, current market dynamics, consumer landscape, growth opportunities and challenges backed by factful feedbacks.
- On the basis of solution, the market is segmented into customer centricity, business networks, responsive workforce, profit and risk control and finance, investments, and compliance.
- By type the blockchain in insurance market is segmented property and casualty insurance, microinsurance, peer-to-peer insurance, parametric insurance and others.
- By application the market is segmented into fraud prevention, risk prevention, data security, payment, digital identification and others.
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Blockchain in Insurance Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
BLOCKCHAIN IN INSURANCE Market, by Solution
- Customer Centricity
- Business Networks
- Responsive Workforce
- Profit and Risk Control
- Finance, Investments, and Compliance
- Blockchain in Insurance Market, by Type
- Property and Casualty Insurance
- Microinsurance
- Peer-to-Peer Insurance
- Parametric insurance
- Others
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Blockchain in Insurance Market by, Application
- Fraud Prevention
- Risk Prevention
- Data Security
- Payment
- Digital Identification
- Others
Blockchain in Insurance Market by, Region
- Asia-Pacific
- North America
- Europe
- Middle East and Africa
- South America
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About Forencis Research
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