Chain Reaction: How blockchain technology might transform wholesale insurance
With the goal to identify where blockchain technologies have the greatest potential, this research report sponsored by PwC and conducted by Z/Yen, is based on 50+ interviews with brokers, insurers, reinsurers, regulators and trade bodies from across the global wholesale insurance market.
Building on a recent PwC survey suggesting that 56% of insurers recognise the importance of blockchain, but 57% conceded they did not yet know how to respond1, the findings of this report highlight enthusiasm within the wholesale insurance industry to work together and implement blockchain solutions. More specifically, the report identifies key practical use case examples of the use of blockchain in wholesale insurance and is complimented by a technical Proof of Concept developed by the PwC Blockchain team in Belfast illustrating how blockchain technology can be applied to solve business problems.
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