Blockchain in Insurance Sector: The Revolution Has Begun

In this blog, I will explain the benefits of using Blockchain in the insurance sector, its usage, and some popular market case studies. By implementing this technology, insurers can increase customer experience and reduce operational costs. The core benefit behind its use is that it builds trust between two parties without any intermediary or middleman. In 2018, Blockchain usage in the market was valued at USD 64.50 million. By 2023, it will reach USD 1,393.8 million, at a Compound Annual Growth Rate of 84.9%.