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Blockchain Technology in the Insurance Industry

May 2017

While still in nascent stages, blockchain technology has established itself in niche areas of cryptocurrencies over the past five years. This progress has led to a better understanding of how the technology might play an important role within the insurance industry, leading to new capabilities, improved efficiency, and enhanced strategic positioning. Enthusiasm for blockchain technology, however, should be tempered by limitations of the technology and barriers to its adoption in the insurance industry.

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