Blockchain in Insurance: A Vendor Overview

While blockchain is still a technology in development, a host of vendors are offering to help insurers make use of it or its variation

Boston, MA (Apr. 17, 2017) – Blockchain is still an immature technology, with a range of blockchain platform options competing for pre-eminence. Of all blockchain platforms currently available, only the bitcoin blockchain has been in production for over five years. In the meantime, some are taking the technology in a direction further away from the original concept of blockchain and distributed ledger. While the core technology continues to evolve, a host of technology vendors has sprouted to assist the insurance industry. This report is meant to help insurance executives gain a firmer grasp of the ecosystem of vendors targeting property and casualty, life, or healthcare insurance with blockchain solutions or services.

This report is based on 48 executive phone interviews conducted with insurers, reinsurers, technology vendors, consulting firms, and venture capitalists across North America, Europe, the Middle East, and Africa, and the Asia-Pacific between January and March 2017. The report profiles 29 organizations and technology vendors: Acord, Airas Intersoft, Augur, B3i, ChainThat, ConsenSys, Ethereum, Factom, Guardtime, Hashed Health, Hyperledger, Integrated Engineering Blockchain Consortium, IoT Blockchain Consortium, KPMG, Lloyd’s of London, NTT Data, PokitDok, PwC, R3CEV, RSK Labs, SAP, SmartContract, Stratumn, Symbiont, Synechron, TCS, Teambrella, Verisk Analytics, and Woleet.

This 60-page Impact Report contains one figure and 31 tables. Clients of Aite Group’s Health Insurance, Life Insurance, or P&C Insurance services can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions Accenture, Achmea, Acord, Aegon, Ageas, Airas Intersoft, Allianz, Amazon Web Services, Ambisafe, Apple, Ascension, Augu, Axoni, B3i, BitSE, Blockstream, Bloq, Bosch, Capgemini, CH2M, ChainThat, Change Healthcare, Chronicled, Cisco, Coengineers, Conduent, ConsenSys, Credit Suisse, Cryptonomex, Curiosume, Delaware Blockchain Initiative, Deloitte, Digital Assets Holdings, Distributed DocuSign, DTCC, Dynamis, Enterprise Ethereum Alliance, Ethereum, Etherisc, Everledger, EY, Factom, Filament, Foxconn, Friendsurance, Gemalto, Generali, GoFundMe, Guardtime, Guy Carpenter, Hannover Re, Hashed Health, Humana, Hyperledger Project, Hypermind, ING, Integrated Engineering Blockchain Consortium (IEBC), Intel, IoT Blockchain Consortium, Ipreo, John Hancock, JPMorgan Chase, Kaiser Permanente, KKR, KPMG, Ledger, LexisNexis Risk Solutions, Liberty Mutual, Libra, Lloyd’s of London, Microsoft, Min Shang, Monax, MultiChain, Munich Re, National Society of Professional Engineers, Nephila, Netki, NTT Data, NXT, PokitDok, Predictit.org, PwC, Quant, R3CEV, RGA, RSK Labs (Rootstock), Safeshare, Salesforce, SAP, Sawtooth Lake, SCOR, Skuchain, Slock.it, SmartContract, Sompo Japan Nipponkoa Insurance, Soramitsu Co, Stanford Center for Integrated Facilities Engineering, State Street, Steemit, Stratumn, Swiss Re, Symbiont, Synechron, TCS, TeamBrella, The Ingenesist Project, The Institutes, The Linux Foundation, Tokio Marine & Nichido Fire Insurance, Tokio Marine Holdings, Verisk Analytics, Wells Fargo, Wipro, WISeKey, Woleet, XL Catlin, ZocDoc, and Zurich Insurance Group.

About Aite Group

Aite Group is an independent research and advisory firm focused on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, securities & investments, and insurance, Aite Group’s analysts deliver comprehensive, actionable advice to key market participants in financial services. Headquartered in Boston with a presence in Chicago, New York, San Francisco, London, and Milan, Aite Group works with its clients as a partner, advisor, and catalyst, challenging their basic assumptions and ensuring they remain at the forefront of industry trends.

Source: Aite Group