An Evaluation of the Operational and Regulatory Aspects of using Blockchain in the Insurance Industry

Abstract

While insurance professionals are well-versed in their field, there is a distinct lack of a framework for implementing distributed ledger technology, including blockchain, in the industry. This chapter evaluates the operational and regulatory aspects of using blockchain in the insurance industry. Even though blockchain technology has piqued the involvement of several stakeholders, it is necessary to predict how this technology will affect financial services, including insurance. From 2017 to 2021, this script analysed 212 Scopus-indexed research papers. The graphical maps created via VOS shows the historical commitments of authors and countries, as well as trends through cooperation and journal. All selected articles assessed concepts of research, and shared study areas as well as potential future research endeavours.