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Global Blockchain in Insurance Market By Providers (Application and Solution Provider, Middleware Provider ), By Application (GRC Management, Death and Claims Management, Payments ), By Size (Large Enterprises, Small and Medium-Sized Enterprises) - Business Overview, Analysis and Industry Forecast 2018-2023.


Report Overview

Global Blockchain in Insurance Market was valued at USD 40.47 Million in the year 2017. Global Blockchain in Insurance Market is further estimated to grow at a CAGR of 81% from 2018 to reach USD 1423 Million by the year 2023.

The Global Blockchain in Insurance is segmented as by provider, application, organization size, and by region. On the basis of application, the smart contracts application is estimated to dominate the market in 2018, owing to reduced costs of verification, execution, arbitration, and fraud prevention. On the basis of providers, the infrastructure and protocols provider segment is expected to dominate the market as various infrastructure and protocols providers are providing infrastructure and platforms, which are leveraged by application and solution providers to develop applications.

On the other hand, by organization type, the market is segmented as Large Enterprises and Disposable Small and Medium-Sized Enterprises for Large Enterprises segment is expected to grow at highest CAGR during the year 2018-2023. Owing to the availability of blockchain-as-a-service, provided by vendors operating in the market, which minimizes infrastructure development costs.

North America region holds the highest market share in 2017 and the Asia Pacific is considered as the fastest growing market in the forecasted period. At the country level, China, India, and Japan are projected to grow strongly in the coming years. Being the early adopter of blockchain and cryptocurrency technologies, and the presence of the global and domestic industry players, North America is expected to continue to dominate the market during the forecast period.


            Growing Number of Fraudulent Insurance Claims.

            Increasing Need to Have Transparent and Trustworthy Systems


            Uncertain Regulatory Status and Lack of Common Standards


            Growth in IoT market

            Increase in cyber crimes


            Lack of Awareness about the Blockchain Technology

IBM (US), Oracle (US), Microsoft (US), AWS (US), SAP (Germany), Earthport (U.K), Digital Asset Holdings (US), Factom (US) are some of the key players in the Blockchain in Insurance Market. For instance, in October 2017, IBM launched a new blockchain banking solution that helps financial institutions expedite global payments. This solution uses IBM’s blockchain technology and collaborates with technology partners, such as and KlickEx Group, to enhance the speed so that financial institutions can settle payment transactions on a single network in real time

Key Benefits for Stakeholders

Blockchain technology vendors

Network solution providers

Independent software vendors

Consulting firms

Payment gateway providers

Value-added resellers

Financial services firms

By Providers

Application and Solution Provider

Middleware Provider

Infrastructure and Protocols Provider

By Application

GRC Management

Death and Claims Management


Identity Management and Fraud Detection

Smart Contracts


By Size

Large Enterprises

Small and Medium-Sized Enterprises 

By Region

North America




Key Market Players







BTL Group


Digital Asset Holdings


(Another brief information of 10 companies will be provided in the report)

Research Methodology:

Genesis Market Insights follows in-depth Research Methodology focused on reducing deviation in the collected data. GMI offers the most precise evaluations and projection for the market numbers. GMI engages following Market Engineering techniques –

  1.      Raw Market Data is collected and compared with the Existing in-house Data on a broad front.
  2.      Both Bottom-Up and Top-Down approaches are analyzed for segmenting and estimating measurable aspects of the market.
  3.      To avoid bias, we filter the collected data collected from authenticated sources.
  4.      GMI has a well proven Statistical Modeling System for estimates and forecasts.
  5.      Further, the report findings are validated with the Industry Expert Panel on face to face or telephonic interviews.
  6.      Panelists are approached from Leading Enterprises across the value chain including manufacturers, suppliers, technology providers, domain experts and buyers so as to validate a thorough and balanced market overview.

Detailed customization is also available for you. Further, if the report listed above does not meet your key requirements. Our customized research report will analytically cover the required market information you need which will help you to plan your business decisions.

Table Of Content

1. Introduction

1.1 Market Vision

       1.1.1 Market Definition

       1.1.2 Market Scope

1.2 Limitations

1.3 Stakeholders

2. Research Methodology

2.1. Research Process

       2.1.1. Secondary Research

    Key Data from Secondary Research

       2.1.2. Primary Research

    Key Data from Primary Research

    Breakdowns of Primary Interviews

2.2. Market Size Estimation

       2.2.1. Bottoms-Up Approach

       2.2.2. Top-Down Approach

       2.2.3. Annual Revenue Process

2.3. Data Triangulation 

2.4. Research Assumptions 

       2.4.1. Assumption

3. Executive Summary

4. Market Overview

4.1. Introduction

4.2. Drivers

4.3. Restraints

4.4. Opportunities

4.5. Challenges

4.6. Regulations

4.7. Supply Chain/Value Chain Analysis

4.8. Patent & Standards

5. Industry Trends

5.1. Introduction

5.2. Porter’s Five Forces Analysis

       5.2.1. Threat of New Entrants

       5.2.2. Threat of Substitutes

       5.2.3. Bargaining Power of Buyers

       5.2.4. Bargaining Power of Suppliers

       5.2.5. Intensity of Competitive Rivalry

6.  Blockchain in Insurance Market, By Providers

6.1 Application and Solution Provider

6.2 Middleware Provider

6.3 Infrastructure and Protocols Provider

7.  Blockchain in Insurance Market, By Application

7.1 GRC Management

7.2 Death and Claims Management

7.3 Payments

7.4 Identity Management and Fraud Detection

7.5 Smart Contracts

7.6 Others

8.  Blockchain in Insurance Market, By Size

8.1 Large Enterprises

8.2 Small and Medium-Sized Enterprises 

9. Geographical Analysis

9.1. Introduction

9.2. North America

       9.2.1. U.S.

       9.2.2. Canada

       9.2.3. Mexico

9.3. Europe

       9.3.1. U.K.

       9.3.2. Germany

       9.3.3. France

       9.3.4. RoE

9.4. Asia Pacific

       9.4.1. China

       9.4.2. Malaysia

       9.4.3. South Korea

       9.4.4. India

       9.4.5 Ro APAC

9.5. RoW

       9.5.1. Latin America

       9.5.2. Middle East and Africa

10. Company Profiles

(Business Overview, Financial Overview, Product write Up, Recent Developments)

10.1 IBM

10.2 Oracle

10.3 Microsoft

10.4 AWS

10.5 SAP

10.6 Earthport

10.7 BTL Group

10.8 Bitfury

10.9 Digital Asset Holdings

10.10 Factom

(A brief overview of 10 companies is also provided.)

11. Competitive Analysis

11.1. Introduction

11.2. Market Positioning of Key Players

11.3 Competitive Strategies Adopted by Leading Players

        11.3.1. Investments & Expansions

        11.3.2. New Product Launches

        11.3.3. Mergers & Acquisitions

        11.3.4. Agreements, Joint Ventures, and Partnerships

12. Appendix

12.1. Questionnaire

12.2. Available Customizations 

12.3. Upcoming Events (Trade Fair, Exhibitions, Conferences)


No Content Available.



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