Blockchain in Insurance Market - Global Industry Analysis

Blockchain in Insurance Market: by Product (Health Insurance, Auto Insurance and Life Insurance), by Application Area (Underwriting, Claims Processing and Client on Boarding), by Components (Tools and Services) for GRC management, Identity Management and Fraud Detection, Death and Claims Management, Payments and Others Among Other Applications and By Region- Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2025.

Published Date: 25-Oct-2019 Category: Technology & Media Report Format : PDF Pages: 189 Report Code: ZMR-4934 Status : Published

Description

Block-chain is basically an encrypted protocol designed to secure digitalized data. It is basically formed of encrypted list of database that is considered as block. Currently block-chain plays vital role in insurance industry. Basically in insurance sector block-chain is implied for fraud detection, claims management, payment modeling, and reinsurance management.

Currently number of false insurance claims is tremendously increasing. Fraud risk management is one of the prime areas of concern for an insurer. Such frauds are driving up the cost of both insurer and policy holder. Handling such frauds is burdensome task. Therefore to prevent or handle such sharp practices block-chain is widely used by numerous insurance companies. The boosting need of handling such frauds is significantly driving the market growth. Blockchain handles such fraud claims with viable proofs. It basically develops a highly secured system that verifies any insurance claim quickly. However, constant need of energy sources to run the blockchain software for encryption and decryption is restraining the market growth to some extent. Transparency and trust is one of the prime matters of concern for insurance industry that is significantly offered by blockchain technology. The constant need of enhancing the efficiency and claims processing is expected to create enormous opportunities in future.

The blockchain in insurance market is bifurcated on the basis of product, application area, component, application, and region. Based on product the market is segmented into health insurance, auto insurance,        and life insurance. Auto insurance segment is observed rapidly growing due to accelerating rate of road accidents that has simultaneously increased the rate of automobile damage. On the basis of application area served, the market is fragmented into underwriting, claims processing          and client on boarding. Underwriting segment plays vital role in insurance industry and observed to hold significant market share. By component the market is classified into tools and services. Services segment is anticipated to hold massive share in the upcoming years due to boosting rate of consulting services of insurance industry. Blockchain is used in diversified applications of insurance industry including smart contracts, GRC management, identity management and fraud detection, death and claims management, payments and others. Rising insurance fraud claims rate is immensely accelerate the growth of identity management and fraud detection segment. Geographically the market is classified into five regions North America, Europe, Asia Pacific, Latin America, and MEA. Due to high rate of adoption of blockchain, North America is observed to significantly dominate the market.

At present adoption of blockchain technology is rapid pace; key players of the market are highly focused on enhancing the security level offered. Globally renowned key players of  blockchain in insurance Bitfury, Applied Blockchain, BlockCypher, Algorythmix, Auxesis Group, BTL Group, Cambridge Blockchain, Digital Asset Holdings, Factom, Guardtime, RecordsKeeper, Microsoft, IBM, Earthport, iXLedger, SAP , Symbiont and SafeShare Global.

The report segments global blockchain in insurance market as follows:

Global Blockchain in Insurance Market: Product Segment Analysis

  • Health Insurance  
  • Auto Insurance     
  • Life Insurance

Global Blockchain in Insurance Market: Application Area Segment Analysis

  • Underwriting        
  • Claims Processing 
  • Client on Boarding

Global Blockchain in Insurance Market: Component Segment Analysis

  • Tools
  • Services

Global Blockchain in Insurance Market: Application Segment Analysis

  • GRC Management
  • Identity Management and Fraud Detection           
  • Death and Claims Management         
  • Payments   
  • Others (content storage management and customer communication)

Global Blockchain in Insurance Market: Regional Segment Analysis

  • North America
    • U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

  • Chapter 1. Preface
    • 1.1. Report Description and Scope
    • 1.2. Research Scope
    • 1.3. Research Methodology
      • 1.3.1. Market Research Process
      • 1.3.2. Market Research Methodology
  • Chapter 2. Executive Summary
    • 2.1. Blockchain in Insurance Market, 2016-2025 (USD Million)
    • 2.2. Blockchain in Insurance Market: Snapshot
  • Chapter 3. Blockchain in Insurance Market - Industry Analysis
    • 3.1. Blockchain in Insurance Market: Market Dynamics
    • 3.2. Market Drivers
      • 3.2.1. Driver 1
      • 3.2.2. Driver 2
    • 3.3. Restraints
      • 3.3.1. Restraint 1
      • 3.3.2. Restraint 2
    • 3.4. Opportunity
      • 3.4.1. Government funding and support
    • 3.5. Porter's Five Forces Analysis
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market attractiveness analysis By Product
      • 3.6.2. Market attractiveness analysis By Application Area Area
      • 3.6.3. Market attractiveness analysis By Component
      • 3.6.4. Market attractiveness analysis By Application
      • 3.6.5. Market attractiveness analysis by Region
  • Chapter 4. Blockchain in Insurance Market- Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Global Blockchain in Insurance Market: company market share, 2018
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New Product launches
      • 4.2.3. Agreements, partnerships, collaborations and joint ventures
      • 4.2.4. Research and development and Regional expansion
    • 4.3. Price trend analysis
  • Chapter 5. Global Blockchain in Insurance Market -Product Analysis
    • 5.1. Global Blockchain in Insurance Market overview: By Product type
      • 5.1.1. Global Blockchain in Insurance Market share, By Product,2018 and 2025
    • 5.2. Health Insurance
      • 5.2.1. Global Blockchain in Insurance Market by Health Insurance, 2016-2025 (USD Million)
    • 5.3. Auto Insurance
      • 5.3.1. Global Blockchain in Insurance Market by Auto Insurance, 2016-2025 (USD Million)
    • 5.4. Life Insurance
      • 5.4.1. Global Blockchain in Insurance Market by Life Insurance, 2016-2025 (USD Million)
  • Chapter 6. Global Blockchain in Insurance Market -Application Area Analysis
    • 6.1. Global Blockchain in Insurance Market overview: By Application Area Area
      • 6.1.1. Global Blockchain in Insurance Market share, By Application Area Area, 2018 and 2025
    • 6.2. Underwriting
      • 6.2.1. Global Blockchain in Insurance Market By Application Underwriting, 2016-2025 (USD Million)
    • 6.3. Claims Processing
      • 6.3.1. Global Blockchain in Insurance Market By Application Claims Processing, 2016-2025 (USD Million)
    • 6.4. Client on Boarding
      • 6.4.1. Global Blockchain in Insurance Market By Application Client on Boarding, 2016-2025 (USD Million)
  • Chapter 7. Global Blockchain in Insurance Market -Component Analysis
    • 7.1. Global Blockchain in Insurance Market overview: By Component
      • 7.1.1. Global Blockchain in Insurance Market share, By Component, 2018 and 2025
    • 7.2. Tools
      • 7.2.1. Global Blockchain in Insurance Market by Tools, 2016-2025 (USD Million)
    • 7.3. Services
      • 7.3.1. Global Blockchain in Insurance Market by Services, 2016-2025 (USD Million)
  • Chapter 8. Global Blockchain in Insurance Market - Application Analysis
    • 8.1. Global Blockchain in Insurance Market overview: By Application
      • 8.1.1. Global Blockchain in Insurance Market share, By Application, 2018 and 2025
    • 8.2. GRC Management
      • 8.2.1. Global Blockchain in Insurance Market by GRC Management, 2016-2025 (USD Million)
    • 8.3. Identity Management and Fraud Detection
      • 8.3.1. Global Blockchain in Insurance Market by Identity Management and Fraud Detection, 2016-2025 (USD Million)
    • 8.4. Death and Claims Management
      • 8.4.1. Global Blockchain in Insurance Market by Death and Claims Management, 2016-2025 (USD Million)
    • 8.5. Payments
      • 8.5.1. Global Blockchain in Insurance Market by Payments, 2016-2025 (USD Million)
    • 8.6. Others
      • 8.6.1. Global Blockchain in Insurance Market by Application Others (content storage management and customer communication), 2016-2025 (USD Million)
  • Chapter 9. Global Blockchain in Insurance Market - Regional Analysis
    • 9.1. Global Blockchain in Insurance Market overview: by Region
      • 9.1.1. Global Blockchain in Insurance Marketshare, by Region, 2018 and 2025
    • 9.2. North America
      • 9.2.1. North America Blockchain in Insurance Market, 2016-2025 (USD Million)
      • 9.2.2. North America Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
      • 9.2.3. North America Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
      • 9.2.4. North America Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
      • 9.2.5. North America Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
      • 9.2.6. The U.S.
        • 9.2.6.1. The U.S.Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
        • 9.2.6.2. The U.S.Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
        • 9.2.6.3. The U.S.Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
        • 9.2.6.4. The U.S.Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
      • 9.2.7. Rest of North America
        • 9.2.7.1. Rest of North America Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
        • 9.2.7.2. Rest of North America Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
        • 9.2.7.3. Rest of North America Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
        • 9.2.7.4. Rest of North America Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
    • 9.3. Europe
      • 9.3.1. Europe Blockchain in Insurance Market, 2016-2025 (USD Million)
      • 9.3.2. Europe Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
      • 9.3.3. Europe Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
      • 9.3.4. Europe Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
      • 9.3.5. Europe Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
      • 9.3.6. UK
        • 9.3.6.1. U.K.Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
        • 9.3.6.2. U.K.Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
        • 9.3.6.3. U.K. Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
        • 9.3.6.4. U.K. Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
      • 9.3.7. France
        • 9.3.7.1. France Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
        • 9.3.7.2. France Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
        • 9.3.7.3. France Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
        • 9.3.7.4. France Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
      • 9.3.8. Germany
        • 9.3.8.1. Germany Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
        • 9.3.8.2. Germany Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
        • 9.3.8.3. Germany Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
        • 9.3.8.4. Germany Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
      • 9.3.9. Rest of Europe
        • 9.3.9.1. Rest of EuropeBlockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
        • 9.3.9.2. Rest of EuropeBlockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
        • 9.3.9.3. Rest of Europe Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
        • 9.3.9.4. Rest of Europe Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
    • 9.4. Asia Pacific
      • 9.4.1. Asia Pacific Blockchain in Insurance Market, 2016-2025 (USD Million)
      • 9.4.2. Asia Pacific Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
      • 9.4.3. Asia Pacific Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
      • 9.4.4. Asia Pacific Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
      • 9.4.5. Asia Pacific Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
      • 9.4.6. China
        • 9.4.6.1. China Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
        • 9.4.6.2. China Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
        • 9.4.6.3. China Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
        • 9.4.6.4. China Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million
      • 9.4.7. Japan
        • 9.4.7.1. Japan Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
        • 9.4.7.2. Japan Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
        • 9.4.7.3. Japan Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
        • 9.4.7.4. Japan Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
      • 9.4.8. India
        • 9.4.8.1. India Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
        • 9.4.8.2. India Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
        • 9.4.8.3. India Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
        • 9.4.8.4. India Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
      • 9.4.9. Rest of Asia Pacific
        • 9.4.9.1. Rest of Asia Pacific Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
        • 9.4.9.2. Rest of Asia Pacific Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
        • 9.4.9.3. Rest of Asia Pacific Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
        • 9.4.9.4. Rest of Asia Pacific Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
    • 9.5. Latin America
      • 9.5.1. Latin America Blockchain in Insurance Market, 2016-2025 (USD Million)
      • 9.5.2. Latin America Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
      • 9.5.3. Latin America Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
      • 9.5.4. Latin America Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
      • 9.5.5. Latin America Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
      • 9.5.6. Brazil
        • 9.5.6.1. Brazil Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
        • 9.5.6.2. Brazil Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
        • 9.5.6.3. Brazil Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
        • 9.5.6.4. Brazil Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
      • 9.5.7. Rest of LatinAmerica
        • 9.5.7.1. Rest of LatinAmerica Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
        • 9.5.7.2. Rest of LatinAmerica Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
        • 9.5.7.3. Rest of Latin America Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
        • 9.5.7.4. Rest of Latin America Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
    • 9.6. The Middle East and Africa
      • 9.6.1. The Middle East and Africa Blockchain in Insurance Market, 2016-2025 (USD Million)
      • 9.6.2. The Middle East and Africa Blockchain in Insurance Market revenue, By Product,2016-2025 (USD Million)
      • 9.6.3. The Middle East and Africa Blockchain in Insurance Market revenue, By Application Area Area, 2016-2025 (USD Million)
      • 9.6.4. The Middle East and Africa Blockchain in Insurance Market revenue, By Component, 2016-2025 (USD Million)
      • 9.6.5. The Middle East and Africa Blockchain in Insurance Market revenue, By Application, 2016-2025 (USD Million)
  • Chapter 10. Company Profiles
    • 10.1. blockchain in insurance Bitfury
      • 10.1.1. Overview
      • 10.1.2. Financials
      • 10.1.3. Product Portfolio
      • 10.1.4. Business Strategy
      • 10.1.5. Recent Developments
    • 10.2. Applied Blockchain
      • 10.2.1. Overview
      • 10.2.2. Financials
      • 10.2.3. Product Portfolio
      • 10.2.4. Business Strategy
      • 10.2.5. Recent Developments
    • 10.3. BlockCypher
      • 10.3.1. Overview
      • 10.3.2. Financials
      • 10.3.3. Product Portfolio
      • 10.3.4. Business Strategy
      • 10.3.5. Recent Developments
    • 10.4. Algorythmix
      • 10.4.1. Overview
      • 10.4.2. Financials
      • 10.4.3. Product Portfolio
      • 10.4.4. Business Strategy
      • 10.4.5. Recent Developments
    • 10.5. Auxesis Group
      • 10.5.1. Overview
      • 10.5.2. Financials
      • 10.5.3. Product Portfolio
      • 10.5.4. Business Strategy
      • 10.5.5. Recent Development
    • 10.6. BTL Group
      • 10.6.1. Overview
      • 10.6.2. Financials
      • 10.6.3. Product Portfolio
      • 10.6.4. Business Strategy
      • 10.6.5. Recent Development
    • 10.7. Cambridge Blockchain
      • 10.7.1. Overview
      • 10.7.2. Financials
      • 10.7.3. Product Portfolio
      • 10.7.4. Business Strategy
      • 10.7.5. Recent Development
    • 10.8. Digital Asset Holdings
      • 10.8.1. Overview
      • 10.8.2. Financials
      • 10.8.3. Product Portfolio
      • 10.8.4. Business Strategy
      • 10.8.5. Recent Development
    • 10.9. Factom
      • 10.9.1. Overview
      • 10.9.2. Financials
      • 10.9.3. Product Portfolio
      • 10.9.4. Business Strategy
      • 10.9.5. Recent Development
    • 10.10. Guardtime
      • 10.10.1. Overview
      • 10.10.2. Financials
      • 10.10.3. Product Portfolio
      • 10.10.4. Business Strategy
      • 10.10.5. Recent Development

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