Blockchain-powered revolution in the insurance industry

Last year, more than $1.2bn was invested in InsurTech startups – six times the amount invested in 2010, making the insurance industry one of the most exciting areas of innovation with the highest disruption potential for tech-powered startups. According to a 2015 report from WEF, “The most imminent effects of disruption will be felt in the banking sector; however, the greatest impact of disruption is likely to be felt in the insurance sector.” But what does disruption in the insurance industry mean and how will it occur? The answer may be contained in the understanding of the role of blockchain technology in the future of insurance. Read more: