IMPLEMENTATION OF SMART CONTRACTS BASED ON BLOCKCHAIN TECHNOLOGY IN THE ACTIVITIES OF RUSSIAN INSURANCE COMPANIES

Abstract

The insurance industry is among those industries that are most susceptible to fraud. This leads to the need to attract new technologies that ensure transparency and reliability of data with maximum minimization of corruption manipulations. The article substantiates the need to develop the Russian insurance market through the introduction of digital technologies, in particular smart contracts based on blockchain technology, which help to carry out insurance activities within a certain type in order to simplify the work of insurers in processing and ana-lyzing data for drawing up insurance contracts. The study revealed the advantages and possibil-ities of using smart contracts by Russian insurance companies with the ability to assess their prospects in the market and contribute to the development and dissemination of blockchain technology in Russia.