According to R3 and ChainThat, two providers of blockchain [4] solutions, this technology is likely to generate annual savings comprised between 20 and 50 billion USD for the insurance business.
Thanks to this innovation, insurers may now better target their customers, detect fraud and reduce their operating costs by up to 25%.
Links:
[1] https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Fblockchain-will-generate-up-to-50-billion-usd-a-year-in-savings&text=Blockchain+will+generate+up+to+50+billion+USD+a+year+in+savings
[2] https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.atlas-mag.net%2Fen%2Farticle%2Fblockchain-will-generate-up-to-50-billion-usd-a-year-in-savings&source=Atlas Magazine&mini=true
[3] https://www.atlas-mag.net/en/issue/digital-insurance-the-new-eldorado
[4] http://www.atlas-mag.net/en/article/blockchain-for-novice-users-definition-and-mode-of-functioning