DIGITAL TRANSFORMATION
“ THE CURRENT REPORTING REQUIREMENTS IMPOSED ON
BLOCKCHAINS DON ' T NECESSARILY ALIGN WITH THE PRIVACY AND
PROTECTION REQUIREMENTS OF THE INSURANCE INDUSTRY ”
BRIANA MARBURY EXECUTIVE DIRECTOR AT THE
INTERLEDGER FOUNDATION many years before widespread usage occurs in this particular sector . Samantha Chow at EIS Group thinks , “ The future of blockchain in insurance is inevitable , but still way out of reach . The use of blockchain would require a complete greenfield approach for an insurance provider and a willingness to take a bit of risk , something many insurers are not keen on . It would take a strong frontrunner to take the lead . However , the value a blockchain platform could bring and the introduction of crypto-funded insurance policies would be quite the game-changer .”
Still , innovators are paving the path forward by developing solutions to automate traditional processes and increase transparency . And maybe someday in the future , people will not need to file claims because smart contracts will automatically do everything . insurtechdigital . com 75