Global Blockchain In Insurance Market Analysis 2021

The Global Blockchain in Insurance market is expected to reach $14,700.96 million by 2027 growing at a CAGR of 82.8% during 2020 to 2027. Blockchain is the general term as the encrypted protocol which is used to secure the digitalized data. It is used to record each financial transaction that is digitally secured and no one can tamper with it. The main purpose of blockchain in the insurance is to safeguard against the frauds to claim automated transactions, enable them to track and manage the physical accessed data digitally. Factors such as growing demand of automation across the BFSI sector, rising need for reducing the total cost of ownership, and increasing deployment of internet of things (IoT) are driving the market growth. However, uncertain regulatory status and lack of common standards may hinder the market growth. Amongst application, the smart contracts segment is expected to grow at the significant rate during the forecast period, as it can be coded to accept feeds from the telematics devices, and in the event of an accident, automatically raise insurance claims & trigger pay-outs. Smart contracts powered by a blockchain could provide customers and insurers with the means to manage claims in a transparent, responsive and irrefutable manner where claims-handling could become more efficient and streamlined, resulting for improved customer experience. The key vendors mentioned are IBM Corporation, Oracle Corporation, Earthport PLC., SAP SE, Microsoft Corporation, Algorythmix, Auxesis Group, BTL Group Limited, Digital Asset Holdings, LLC , Amazon Web Services, Inc., Cambridge Blockchain, GuardTime AS, Symbiont.io Inc., Chainthat Limited , Bitfury Group Limited., and SafeShare Global. Organization Sizes Covered: • Large Enterprises • Small and Medium-Sized Enterprises (SMEs) Solutions Covered: • Profit and Risk Control • Business Networks • Finance, Investments, and Compliance • Customer Centricity • Responsive Workforce Providers Covered: • Middleware Provider • Application, Services, and Solution Provider • Infrastructure and Protocols Provider Services Covered: • Managed • Professional Types Covered: • Parametric Insurance • Microinsurance • Peer-to-Peer Insurance Deployments Covered: • Cloud Based • On-Premise Blockchain Types Covered: • Public Blockchain • Consortium or Federated Blockchain • Private Blockchain Sales Channels Covered: • Distributor • Direct Sales Applications Covered: • Death and Claims Management • Risk Prevention • Governance, Risk and Compliance (GRC) Management • Smart Contracts • Identity and Access Management • Reinsurance • Financial Management (Payments) • Data Security • Insurers • Distribution and Payment Models • Digital Identification • Fraud Detection • Other Applications Insurance Types Covered: • Personal Accident Plans + Life Insurance • Title Insurance • Health Insurance • Travel Insurance + Flight Delays • Vehicle Insurance • Property & Casualty Insurance • Agricultural Insurance • Flooding • Event Disruption from Weather • Home Insurance End Users Covered: • Groups • Individuals Regions Covered: • North America • Europe • Asia Pacific • South America • Middle East & Africa Key Questions Answered in this Report: • How this market evolved since the year 2019 • Market size estimations, forecasts and CAGR for all the segments presented in the scope • Key Market Developments and financials of the key players • Opportunity Analysis for the new entrants • SWOT Analysis of the key players • Fastest growing markets analysed during the forecast period

1 Market Synopsis

2 Research Outline
2.1 Research Snapshot
2.2 Research Methodology
2.3 Research Sources
2.3.1 Primary Research Sources
2.3.2 Secondary Research Sources

3 Market Dynamics
3.1 Drivers
3.2 Restraints

4 Market Environment
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Blockchain in Insurance Market, By Organization Size
5.1 Introduction
5.2 Large Enterprises
5.3 Small and Medium-Sized Enterprises (SMEs)

6 Global Blockchain in Insurance Market, By Solution
6.1 Introduction
6.2 Profit and Risk Control
6.3 Business Networks
6.4 Finance, Investments, and Compliance
6.5 Customer Centricity
6.6 Responsive Workforce

7 Global Blockchain in Insurance Market, By Provider
7.1 Introduction
7.2 Middleware Provider
7.3 Application, Services, and Solution Provider
7.4 Infrastructure and Protocols Provider

8 Global Blockchain in Insurance Market, By Service
8.1 Introduction
8.2 Managed
8.3 Professional

9 Global Blockchain in Insurance Market, By Type
9.1 Introduction
9.2 Parametric Insurance
9.3 Microinsurance
9.4 Peer-to-Peer Insurance

10 Global Blockchain in Insurance Market, By Deployment
10.1 Introduction
10.2 Cloud Based
10.3 On-Premise

11 Global Blockchain in Insurance Market, By Blockchain Type
11.1 Introduction
11.2 Public Blockchain
11.3 Consortium or Federated Blockchain
11.4 Private Blockchain

12 Global Blockchain in Insurance Market, By Sales Channel
12.1 Introduction
12.2 Distributor
12.3 Direct Sales

13 Global Blockchain in Insurance Market, By Application
13.1 Introduction
13.2 Death and Claims Management
13.3 Risk Prevention
13.4 Governance, Risk and Compliance (GRC) Management
13.5 Smart Contracts
13.6 Identity and Access Management
13.7 Reinsurance
13.8 Financial Management (Payments)
13.9 Data Security
13.10 Insurers
13.11 Distribution and Payment Models
13.12 Digital Identification
13.13 Fraud Detection
13.14 Other Applications

14 Global Blockchain in Insurance Market, By Insurance Type
14.1 Introduction
14.2 Personal Accident Plans + Life Insurance
14.3 Title Insurance
14.4 Health Insurance
14.5 Travel Insurance + Flight Delays
14.6 Vehicle Insurance
14.7 Property & Casualty Insurance
14.8 Agricultural Insurance
14.9 Flooding
14.10 Event Disruption from Weather
14.11 Home Insurance

15 Global Blockchain in Insurance Market, By End User
15.1 Introduction
15.2 Groups
15.3 Individuals

16 Global Blockchain in Insurance Market, By Geography
16.1 Introduction
16.2 North America
16.3 Europe
16.4 Asia Pacific
16.5 South America
16.6 Middle East & Africa

17 Strategic Benchmarking

18 Vendors Landscape
18.1 IBM Corporation
18.2 Oracle Corporation
18.3 Earthport PLC.
18.4 SAP SE
18.5 Microsoft Corporation
18.6 Algorythmix
18.7 Auxesis Group
18.8 BTL Group Limited
18.9 Digital Asset Holdings, LLC
18.10 Amazon Web Services, Inc.
18.11 Cambridge Blockchain
18.12 GuardTime AS
18.13 Symbiont.io Inc.
18.14 Chainthat Limited
18.15 Bitfury Group Limited.
18.16 SafeShare Global

List of Data Tables
1 Global Blockchain in Insurance Market Outlook, By Region (2019-2027) ($MN)
2 Global Blockchain in Insurance Market Outlook, By Organization Size (2019-2027) ($MN)
3 Global Blockchain in Insurance Market Outlook, By Large Enterprises (2019-2027) ($MN)
4 Global Blockchain in Insurance Market Outlook, By Small and Medium-Sized Enterprises (SMEs) (2019-2027) ($MN)
5 Global Blockchain in Insurance Market Outlook, By Solution (2019-2027) ($MN)
6 Global Blockchain in Insurance Market Outlook, By Profit and Risk Control (2019-2027) ($MN)
7 Global Blockchain in Insurance Market Outlook, By Business Networks (2019-2027) ($MN)
8 Global Blockchain in Insurance Market Outlook, By Finance, Investments, and Compliance (2019-2027) ($MN)
9 Global Blockchain in Insurance Market Outlook, By Customer Centricity (2019-2027) ($MN)
10 Global Blockchain in Insurance Market Outlook, By Responsive Workforce (2019-2027) ($MN)
11 Global Blockchain in Insurance Market Outlook, By Provider (2019-2027) ($MN)
12 Global Blockchain in Insurance Market Outlook, By Middleware Provider (2019-2027) ($MN)
13 Global Blockchain in Insurance Market Outlook, By Application, Services, and Solution Provider (2019-2027) ($MN)
14 Global Blockchain in Insurance Market Outlook, By Infrastructure and Protocols Provider (2019-2027) ($MN)
15 Global Blockchain in Insurance Market Outlook, By Service (2019-2027) ($MN)
16 Global Blockchain in Insurance Market Outlook, By Managed (2019-2027) ($MN)
17 Global Blockchain in Insurance Market Outlook, By Professional (2019-2027) ($MN)
18 Global Blockchain in Insurance Market Outlook, By Type (2019-2027) ($MN)
19 Global Blockchain in Insurance Market Outlook, By Parametric Insurance (2019-2027) ($MN)
20 Global Blockchain in Insurance Market Outlook, By Microinsurance (2019-2027) ($MN)
21 Global Blockchain in Insurance Market Outlook, By Peer-to-Peer Insurance (2019-2027) ($MN)
22 Global Blockchain in Insurance Market Outlook, By Deployment (2019-2027) ($MN)
23 Global Blockchain in Insurance Market Outlook, By Cloud Based (2019-2027) ($MN)
24 Global Blockchain in Insurance Market Outlook, By On-Premise (2019-2027) ($MN)
25 Global Blockchain in Insurance Market Outlook, By Blockchain Type (2019-2027) ($MN)
26 Global Blockchain in Insurance Market Outlook, By Public Blockchain (2019-2027) ($MN)
27 Global Blockchain in Insurance Market Outlook, By Consortium or Federated Blockchain (2019-2027) ($MN)
28 Global Blockchain in Insurance Market Outlook, By Private Blockchain (2019-2027) ($MN)
29 Global Blockchain in Insurance Market Outlook, By Sales Channel (2019-2027) ($MN)
30 Global Blockchain in Insurance Market Outlook, By Distributor (2019-2027) ($MN)
31 Global Blockchain in Insurance Market Outlook, By Direct Sales (2019-2027) ($MN)
32 Global Blockchain in Insurance Market Outlook, By Application (2019-2027) ($MN)
33 Global Blockchain in Insurance Market Outlook, By Death and Claims Management (2019-2027) ($MN)
34 Global Blockchain in Insurance Market Outlook, By Risk Prevention (2019-2027) ($MN)
35 Global Blockchain in Insurance Market Outlook, By Governance, Risk and Compliance (GRC) Management (2019-2027) ($MN)
36 Global Blockchain in Insurance Market Outlook, By Smart Contracts (2019-2027) ($MN)
37 Global Blockchain in Insurance Market Outlook, By Identity and Access Management (2019-2027) ($MN)
38 Global Blockchain in Insurance Market Outlook, By Reinsurance (2019-2027) ($MN)
39 Global Blockchain in Insurance Market Outlook, By Financial Management (Payments) (2019-2027) ($MN)
40 Global Blockchain in Insurance Market Outlook, By Data Security (2019-2027) ($MN)
41 Global Blockchain in Insurance Market Outlook, By Insurers (2019-2027) ($MN)
42 Global Blockchain in Insurance Market Outlook, By Distribution and Payment Models (2019-2027) ($MN)
43 Global Blockchain in Insurance Market Outlook, By Digital Identification (2019-2027) ($MN)
44 Global Blockchain in Insurance Market Outlook, By Fraud Detection (2019-2027) ($MN)
45 Global Blockchain in Insurance Market Outlook, By Other Applications (2019-2027) ($MN)
46 Global Blockchain in Insurance Market Outlook, By Insurance Type (2019-2027) ($MN)
47 Global Blockchain in Insurance Market Outlook, By Personal Accident Plans + Life Insurance (2019-2027) ($MN)
48 Global Blockchain in Insurance Market Outlook, By Title Insurance (2019-2027) ($MN)
49 Global Blockchain in Insurance Market Outlook, By Health Insurance (2019-2027) ($MN)
50 Global Blockchain in Insurance Market Outlook, By Travel Insurance + Flight Delays (2019-2027) ($MN)
51 Global Blockchain in Insurance Market Outlook, By Vehicle Insurance (2019-2027) ($MN)
52 Global Blockchain in Insurance Market Outlook, By Property & Casualty Insurance (2019-2027) ($MN)
53 Global Blockchain in Insurance Market Outlook, By Agricultural Insurance (2019-2027) ($MN)
54 Global Blockchain in Insurance Market Outlook, By Flooding (2019-2027) ($MN)
55 Global Blockchain in Insurance Market Outlook, By Event Disruption from Weather (2019-2027) ($MN)
56 Global Blockchain in Insurance Market Outlook, By Home Insurance (2019-2027) ($MN)
57 Global Blockchain in Insurance Market Outlook, By End User (2019-2027) ($MN)
58 Global Blockchain in Insurance Market Outlook, By Groups (2019-2027) ($MN)
59 Global Blockchain in Insurance Market Outlook, By Individuals (2019-2027) ($MN)
60 North America Blockchain in Insurance Market Outlook, By Organization Size (2019-2027) ($MN)
61 North America Blockchain in Insurance Market Outlook, By Solution (2019-2027) ($MN)
62 North America Blockchain in Insurance Market Outlook, By Provider (2019-2027) ($MN)
63 North America Blockchain in Insurance Market Outlook, By Service (2019-2027) ($MN)
64 North America Blockchain in Insurance Market Outlook, By Type (2019-2027) ($MN)
65 North America Blockchain in Insurance Market Outlook, By Deployment (2019-2027) ($MN)
66 North America Blockchain in Insurance Market Outlook, By Blockchain Type (2019-2027) ($MN)
67 North America Blockchain in Insurance Market Outlook, By Sales Channel (2019-2027) ($MN)
68 North America Blockchain in Insurance Market Outlook, By Application (2019-2027) ($MN)
69 North America Blockchain in Insurance Market Outlook, By Insurance Type (2019-2027) ($MN)
70 North America Blockchain in Insurance Market Outlook, By End User (2019-2027) ($MN)
71 Europe Blockchain in Insurance Market Outlook, By Organization Size (2019-2027) ($MN)
72 Europe Blockchain in Insurance Market Outlook, By Solution (2019-2027) ($MN)
73 Europe Blockchain in Insurance Market Outlook, By Provider (2019-2027) ($MN)
74 Europe Blockchain in Insurance Market Outlook, By Service (2019-2027) ($MN)
75 Europe Blockchain in Insurance Market Outlook, By Type (2019-2027) ($MN)
76 Europe Blockchain in Insurance Market Outlook, By Deployment (2019-2027) ($MN)
77 Europe Blockchain in Insurance Market Outlook, By Blockchain Type (2019-2027) ($MN)
78 Europe Blockchain in Insurance Market Outlook, By Sales Channel (2019-2027) ($MN)
79 Europe Blockchain in Insurance Market Outlook, By Application (2019-2027) ($MN)
80 Europe Blockchain in Insurance Market Outlook, By Insurance Type (2019-2027) ($MN)
81 Europe Blockchain in Insurance Market Outlook, By End User (2019-2027) ($MN)
82 Asia Pacific Blockchain in Insurance Market Outlook, By Organization Size (2019-2027) ($MN)
83 Asia Pacific Blockchain in Insurance Market Outlook, By Solution (2019-2027) ($MN)
84 Asia Pacific Blockchain in Insurance Market Outlook, By Provider (2019-2027) ($MN)
85 Asia Pacific Blockchain in Insurance Market Outlook, By Service (2019-2027) ($MN)
86 Asia Pacific Blockchain in Insurance Market Outlook, By Type (2019-2027) ($MN)
87 Asia Pacific Blockchain in Insurance Market Outlook, By Deployment (2019-2027) ($MN)
88 Asia Pacific Blockchain in Insurance Market Outlook, By Blockchain Type (2019-2027) ($MN)
89 Asia Pacific Blockchain in Insurance Market Outlook, By Sales Channel (2019-2027) ($MN)
90 Asia Pacific Blockchain in Insurance Market Outlook, By Application (2019-2027) ($MN)
91 Asia Pacific Blockchain in Insurance Market Outlook, By Insurance Type (2019-2027) ($MN)
92 Asia Pacific Blockchain in Insurance Market Outlook, By End User (2019-2027) ($MN)
93 South America Blockchain in Insurance Market Outlook, By Organization Size (2019-2027) ($MN)
94 South America Blockchain in Insurance Market Outlook, By Solution (2019-2027) ($MN)
95 South America Blockchain in Insurance Market Outlook, By Provider (2019-2027) ($MN)
96 South America Blockchain in Insurance Market Outlook, By Service (2019-2027) ($MN)
97 South America Blockchain in Insurance Market Outlook, By Type (2019-2027) ($MN)
98 South America Blockchain in Insurance Market Outlook, By Deployment (2019-2027) ($MN)
99 South America Blockchain in Insurance Market Outlook, By Blockchain Type (2019-2027) ($MN)
100 South America Blockchain in Insurance Market Outlook, By Sales Channel (2019-2027) ($MN)
101 South America Blockchain in Insurance Market Outlook, By Application (2019-2027) ($MN)
102 South America Blockchain in Insurance Market Outlook, By Insurance Type (2019-2027) ($MN)
103 South America Blockchain in Insurance Market Outlook, By End User (2019-2027) ($MN)
104 Middle East & Africa Blockchain in Insurance Market Outlook, By Organization Size (2019-2027) ($MN)
105 Middle East & Africa Blockchain in Insurance Market Outlook, By Solution (2019-2027) ($MN)
106 Middle East & Africa Blockchain in Insurance Market Outlook, By Provider (2019-2027) ($MN)
107 Middle East & Africa Blockchain in Insurance Market Outlook, By Service (2019-2027) ($MN)
108 Middle East & Africa Blockchain in Insurance Market Outlook, By Type (2019-2027) ($MN)
109 Middle East & Africa Blockchain in Insurance Market Outlook, By Deployment (2019-2027) ($MN)
110 Middle East & Africa Blockchain in Insurance Market Outlook, By Blockchain Type (2019-2027) ($MN)
111 Middle East & Africa Blockchain in Insurance Market Outlook, By Sales Channel (2019-2027) ($MN)
112 Middle East & Africa Blockchain in Insurance Market Outlook, By Application (2019-2027) ($MN)
113 Middle East & Africa Blockchain in Insurance Market Outlook, By Insurance Type (2019-2027) ($MN)
114 Middle East & Africa Blockchain in Insurance Market Outlook, By End User (2019-2027) ($MN)