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Blockchain Technology: Can Insurers Realize Its Promise?

 

Fridtjof Detlefs

Head, Insurance Practice, TCS (Europe)

Thomas Rubenacker

Lead, Property Casualty Domain, TCS (North America)

Katherine Burger

Lead, Insurance, TCS (North America)

Deriving new business value by creating transparency and responsiveness

Insurers should ignore concerns about disruption, risk and cost when it comes to blockchain technology, and instead monitor it in innovation labs, evaluate phase-based adoption frameworks, and experiment with it in hackathons and small-scale PoCs.

Application and benefits include:

  • Processing claims with smart contracts

  • Minimizing peer-to-peer insurance overheads

  • Creating digital deal rooms