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Evaluation of Potential Use Cases for Blockchain in the Insurance Industry: A Qualitative Analysis

Ricardo Escoda
4.9/5 (18397 ratings)
Read Now Download Now ⏭ listen AudioBook
Description:Master's Thesis from the year 2020 in the subject Economics - Finance, grade: 1,3, International School of Management, Campus Munich, language: English, abstract: Blockchain is considered to be a breakthrough technology with many strengths and opportunities, but also weaknesses and threats for all industries around the globe. It has the potential to revolutionize many sectors, but it is not a universal remedy and does not replace every single traditional technology. Most businesses do feel insecure whether to invest time and money for Research and Development due to the lack of industry standards and regulations with respect to the technology. Before being able to guarantee suitability and successful implementation in any business, it is essential to study the differences between public, private, hybrid, and consortium Blockchain types. In areas of application not strongly relying on Blockchain's distributed systems, alternative solutions such as Big Data Analytics, Artificial Intelligence, and Machine Learning might be more valuable. Nonetheless, Blockchain promises the unique potential for insurance companies to efficiently serve global markets with areas of application mainly concentrating on parts of the VC where bureaucracy can be reduced by automation. For instance, the use of Smart Contracts where lots of data are analyzed, saved, distributed, and pro- cessed. By implementing BC, fields, where the focus is on customer experience such as Payments, Data Security, Transparency, and Developing New Business and Product Ideas, can be improved enormously. Use cases and new products supported by Blockchain might include P2P Micro-Insurances, Ad-hoc and Parametric Insurance Models, Automized Underwriting, Reduction of Fraud and Abuse, and Health Insurance Processes. Real-Time Analytics in the Form of SCs, Instant Pay-Outs, Automized Claims Management, and Improved Risk Modelling of Insurance Businesses might be achievable by connecting Blockchain and Big Data. ContrWe have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Evaluation of Potential Use Cases for Blockchain in the Insurance Industry: A Qualitative Analysis. To get started finding Evaluation of Potential Use Cases for Blockchain in the Insurance Industry: A Qualitative Analysis, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.
Pages
118
Format
PDF, EPUB & Kindle Edition
Publisher
Grin Verlag
Release
2021
ISBN
3346360288

Evaluation of Potential Use Cases for Blockchain in the Insurance Industry: A Qualitative Analysis

Ricardo Escoda
4.4/5 (1290744 ratings)
Read Now Download now ⏭ listen AudioBook
Description: Master's Thesis from the year 2020 in the subject Economics - Finance, grade: 1,3, International School of Management, Campus Munich, language: English, abstract: Blockchain is considered to be a breakthrough technology with many strengths and opportunities, but also weaknesses and threats for all industries around the globe. It has the potential to revolutionize many sectors, but it is not a universal remedy and does not replace every single traditional technology. Most businesses do feel insecure whether to invest time and money for Research and Development due to the lack of industry standards and regulations with respect to the technology. Before being able to guarantee suitability and successful implementation in any business, it is essential to study the differences between public, private, hybrid, and consortium Blockchain types. In areas of application not strongly relying on Blockchain's distributed systems, alternative solutions such as Big Data Analytics, Artificial Intelligence, and Machine Learning might be more valuable. Nonetheless, Blockchain promises the unique potential for insurance companies to efficiently serve global markets with areas of application mainly concentrating on parts of the VC where bureaucracy can be reduced by automation. For instance, the use of Smart Contracts where lots of data are analyzed, saved, distributed, and pro- cessed. By implementing BC, fields, where the focus is on customer experience such as Payments, Data Security, Transparency, and Developing New Business and Product Ideas, can be improved enormously. Use cases and new products supported by Blockchain might include P2P Micro-Insurances, Ad-hoc and Parametric Insurance Models, Automized Underwriting, Reduction of Fraud and Abuse, and Health Insurance Processes. Real-Time Analytics in the Form of SCs, Instant Pay-Outs, Automized Claims Management, and Improved Risk Modelling of Insurance Businesses might be achievable by connecting Blockchain and Big Data. ContrWe have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with Evaluation of Potential Use Cases for Blockchain in the Insurance Industry: A Qualitative Analysis. To get started finding Evaluation of Potential Use Cases for Blockchain in the Insurance Industry: A Qualitative Analysis, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.
Pages
118
Format
PDF, EPUB & Kindle Edition
Publisher
Grin Verlag
Release
2021
ISBN
3346360288

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