Keywords
How to Cite
Abstract
The insurance industry faces persistent challenges, including
inefficiencies, fraud, and a lack of transparency, which result in high costs and
customer dissatisfaction. Blockchain technology offers a transformative solution to
these issues by providing a decentralized, immutable, and transparent ledger system.
Through applications such as fraud detection, automated claims processing, and
streamlined policy management, blockchain enhances operational efficiency and
builds trust among stakeholders. This article explores the potential of blockchain in
revolutionizing the insurance sector, highlights real-world examples, addresses
challenges to adoption, and outlines a promising future outlook for the industry
References
1. Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System.
(https://bitcoin.org/bitcoin.pdf)
2. Tapscott, D., & Tapscott, A. (2016). Blockchain Revolution: How the
Technology Behind Bitcoin is Changing Money, Business, and the World. Portfolio.
3. World Economic Forum. (2018). The Future of Financial Infrastructure:
An Ambitious Look at How Blockchain Can Reshape Financial Services.
(https://www.weforum.org/reports/)
4. B3i Initiative. (n.d.). Blockchain Insurance Industry Initiative.
5. Etherisc. (n.d.). Decentralized Insurance Platform. (https://etherisc.com)
6. “Outcome of e-trade, creating by accelerating digital economy” by KR
Sanjarovna, BA Feruz-oglu - E Conference Zone, 2023
7. “Trade And Economic Performance Through Digital Economy” by
Akhmadbek Bakhtiyorov - Gospodarka i Innowacje., 2022
8. “Economic side effects of open market system to developing countries”
by Akhmadbek Bakhtiyorov - Solution of social problems in management and
economy, 2023
9. “Breakthrough of digitalization due to the innovation economy and the
effect of their collaboration for economic prosperity” by Akhmadbek Bakhtiyorov -
BEST SCIENTIFIC RESEARCH-202
This work is licensed under a Creative Commons Attribution 4.0 International License.
