Blockchain, a catalyst for new opportunities in the insurance sector
Insurance industry plays an undeniable role in every human life. Be it health, property or any risky insurance; everyone has their covers and claims. The workforce and processing of the insurance sector can be enriched with blockchain technology. Many insurance companies are either already adopted or planning to pilot blockchain technology across their business units. This is mainly due to the level of trust, transparency, and immutability that blockchain provides is impeccable. Now let us understand how blockchain is transforming the existing process that is carried out in the insurance sector. How would the blockchain insurance sector work? Even though the insurance sector is certain in our lives, it lacks the evolutions of technologies. Implementing blockchain in insurance industry can fast forward the growth curve to next-generation. Let’s discover blockchain insurance’s process flow! Digitized Documentation Blockchain insurance platforms can devoid physical documentation an