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Insurance, one of the most ancient of trades as well as one of the largest industries worldwide at present, has been, by far, left untouched by major technological disruptions. But the times are changing. Insuretech, a big buzzword in the industry, refers to the use of technology innovations geared towards improved efficiency and reduced cost. Blockchain, …
The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. At the heart of a blockchain network is a distributed ledger that records all the transactions that take place on the network. A block chain ledger is often described as decentralized …