Insurance disruption: How blockchain is transforming the industry

Bankrate | November 13, 2019

For years, the traditional insurance business model has proven to be a surprisingly resilient one. However, traditional insurance is beginning to feel the digital effect as emerging technologies change the way consumers interact with businesses and how products and services are delivered. There’s a general perception that the global insurance industry lags behind other financial service sectors, leaving much to be desired in terms of cost-savings and efficiency. There are also major issues concerning fraud, human error and cyber attacks. Enter blockchain technology: a distributed and decentralized public ledger that is the record-keeping technology behind bitcoin. Blockchain transactions are free to use and have the potential to completely change the way insurance is contracted. Blockchain optimizes efficiency, security and transparency for the entire insurance industry, using public ledgers and fortified cybersecurity protocol.

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The Department of Health Policy and Management (HPM) is committed to training and inspiring the next generation of healthcare leaders. Our students and faculty are passionate about making the world a better place by improving health and healthcare. We work on compelling and important problems, from making the delivery of care safer and more efficient to expanding health insurance coverage and eliminating disparities, to designing and improving the performance of entire health systems.

Spotlight

The Department of Health Policy and Management (HPM) is committed to training and inspiring the next generation of healthcare leaders. Our students and faculty are passionate about making the world a better place by improving health and healthcare. We work on compelling and important problems, from making the delivery of care safer and more efficient to expanding health insurance coverage and eliminating disparities, to designing and improving the performance of entire health systems.

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