The Blockchain Technology is Fueling the Insurance Industry
One has witnessed a huge leap in the insurance sector over the years. And with innovative technology such as the Blockchain disrupting it furthermore, it would scale to new heights in the years to approach. According to a research , it has already turned out to become the largest industry worldwide with a market share of $1.2 trillion and still counting. The Blockchain technology has started to fuel a number of industries and the insurance sector is reaping benefits from it. We have seen in the past how people claim for false insurance because of which the insurance companies had to incur huge loses. If we perceive from the customer’s viewpoint, then claiming for an insurance policy has always been one of the daunting tasks. Moreover, the customers complain that insurance companies often delay in making the payment. So, the Blockchain Solutions is rightfully there to sort out such issues. Blockchain is a distributed peer-to-peer ledger records which are known as the blocks. Every ...