Global #blockchain in insurance market size is expected to grow from USD 64.5 million in 2018 to USD 1,393.8 million by 2023

DUBLIN - July 16, 2018 (Investorideas.com Newswire) The "Blockchain In Insurance Market by Provider, Application (GRC Management, Death & Claims Management, Identity Management & Fraud Detection, Payments, and Smart Contracts), Organization Size and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global blockchain in insurance market size is expected to grow from USD 64.5 million in 2018 to USD 1,393.8 million by 2023, at a Compound Annual Growth Rate (CAGR) of 84.9%.

Growing number of fraudulent insurance claims, increasing need to have transparent and trustworthy systems, and focus on reducing total cost of ownership are said to fuel the growth of this market. In addition, growth of blockchain as a service and the increasing penetration of Internet of Things (IoT) would create opportunities for the growth of this market. However, uncertain regulatory status and lack of common standards might hinder the overall growth of the market.

Globally, it is estimated, insurance companies lose over USD 80 billion to frauds every year. Blockchain is one-stop solution to reduce/combat frauds related to insurance and financial sectors. Traditionally, insurers have been relying upon physical processes to authenticate claim information related to ownership, history item, and authenticity of the product.

However, with the introduction of the Distributed ledger technology (DLT) with features, such as encryption and immutability, transparency in transactions is ensured at the highest level, leaving no room for criminals to defraud the system. All these factors are expected to fuel the overall growth of this segment in the blockchain in insurance market.

Key Topics Covered:

1. Introduction
2. Research Methodology
3. Executive Summary
4. Premium Insights
5. Market Overview
6. Market By Provider
7. Blockchain in Insurance Market, By Application
8. Market By Organization Size
9. Blockchain in Insurance Market, By Region
10. Competitive Landscape
11. Company Profiles

• AWS
• Algorythmix
• Applied Blockchain
• Auxesis Group
• BTL Group
• Bitfury
• Bitpay
• Blockcypher
• Cambridge Blockchain
• Chainthat Limited
• Circle
• Consensys
• Digital Asset Holdings
• Earthport
• Everledger
• Factom
• Guardtime
• IBM
• Ixledger
• Microsoft
• Oracle
• Recordskeeper
• SAP
• Safeshare Global
• Symbiont

For more information about this report visit https://www.researchandmarkets.com/research/7zmbhf/blockchain_in?w=4

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

Related Topics: Insurance, Bitcoin

More Info:

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Get Great Trading Ideas and News Alerts

Guest posts and sponsored content - Got $100?

That's all it takes to get an article published on Investor Ideas - Learn More