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Blockchain Potential to Revolutionize the Insurance Industry

May 23, 2018

If you were wondering what Blockchain is all about, at least as it relates to the insurance industry this article from Baker McKenzie thought leaders Huhnsik Chung and Nicholas Secura explores how blockchain could benefit the insurance industry. Fraud is estimated at over $40 billion for non-health insurers – that’s where the property and casualty insurance focus of Chartwell is. What does Blockchain promise the insurance industry?  Claims reporting could be streamlined. Personal data could be encrypted and redundancies will facilitate the transfer of information in applications and renewals. Read more here.

Some of the Information that appears on this site is produced by Chartwell Insurance Services an independent insurance broker specializing in the personal asset protection of successful individuals. Other content is provided as a resource. The contents of all posts are informational only and Chartwell Insurance Services is not providing legal advice nor policy interpretation. If you have questions please direct them to a representative of Chartwell Insurance Services.