Market Overview:
The global blockchain insurance market is expected to grow at a CAGR of xx% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for blockchain technology in the insurance sector and the growing trend of Insurtech. The global blockchain insurance market is segmented on the basis of type, application, and region. On the basis of type, it is segmented into agricultural insurance, event disruption from weather, flooding, vehicles, property damage/theft/fire policies (homeowners), personal accident plans + life insurance policies (term life), travel insurance + flight delays and others. On the basis of application, it is segmented into individuals and groups. Region-wise, it is divided into North America (U.S., Canada), Latin America (Mexico & Brazil), Europe (Germany & U.K.), Asia Pacific (China & India) and Middle East & Africa (South Africa).
Product Definition:
Blockchain insurance is a term used to describe the use of blockchain technology in the insurance industry. Blockchain technology can be used to create a more transparent and efficient system for managing and exchanging data between insurers, brokers, and customers. It can also be used to create smart contracts that automatically process claims payments.
Agricultural Insurance:
Agricultural insurance is a form of crop insurance that provides coverage for losses caused by natural disasters, such as floods, earthquakes, and hurricanes. It also covers the costs of equipment failure and low yields. The primary goal of agricultural insurance is to help farmers reduce financial risk by providing them with affordable premiums and benefits that meet their requirements.
The global agricultural industry has been witnessing significant changes over the past few years due to rising population coupled with decreasing arable land resources.
Event Disruption from Weather:
Event disruption from weather is the risk that occurs due to natural calamities, which leads to a change in the business continuity plan of an enterprise. It is also known as Weather-based Insurance (WBI). The main objective of WBI is to provide protection against financial losses caused by events such as floods, earthquakes, hurricanes, and so on.
The global blockchain insurance market size was valued at USD 1.5 billion in 2018.
Application Insights:
The groups segment dominated the market in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to factors such as high penetration of group-based organizations, such as clubs, associations and schools. Furthermore, companies are offering discounts on premium for bulk buyers which encourages them to opt for group plans.
The individuals segment is expected to register a significant CAGR during the forecast period owing to increasing awareness about personal injury protection benefits offered by various companies operating in this sector. For instance, Guardium provides PIP coverage that covers medical expenses incurred due both during and after an accident caused by another driver or vehicle owner who has failed a motorist responsibility test taken at random street locations throughout North America (excluding Alaska).
Regional Analysis:
The Asia Pacific region is anticipated to witness the highest growth over the forecast period. The regional market is expected to be driven by increasing investments in technology and infrastructure development, as well as favorable government initiatives. Furthermore, a growing number of cyber-attacks are expected to trigger an increase in demand for coverage across this region.
The European regional market accounted for more than 25% of the global share in 2017 and will retain its dominant position throughout the forecast years owing to high penetration of digitalization across all major insurance markets within Europe coupled with technological advancements such as Artificial Intelligence (AI), Robotic Process Automation (RPA) and others that have led towards significant cost reduction thus boosting customer retention rates positively impacting overall industry growth trends.
Growth Factors:
- Increasing demand for Blockchain technology in the insurance sector for efficient and transparent operations.
- The increasing popularity of Blockchain technology among insurers due to its potential to reduce costs and improve efficiency.
- The increasing number of startups that are using Blockchain technology in the insurance sector.
- The growing awareness about the benefits of Blockchain technology among consumers, which is likely to increase demand for products and services offered by insurers who use this technology.
Scope Of The Report
Report Attributes
Report Details
Report Title
Blockchain Insurance Market Research Report
By Type
Agricultural Insurance, Event Disruption from Weather, Flooding, Vehicles, Property, Personal Accident Plans + Life Insurance, Travel Insurance + Flight Delays, Others
By Application
Individuals, Groups
By Companies
AXA, Blue Cross, Etherisc, Guardtime, FidentiaX, Lemonade, Teambrella, InsCoin, B3i, IBM
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
164
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Blockchain Insurance Market Report Segments:
The global Blockchain Insurance market is segmented on the basis of:
Types
Agricultural Insurance, Event Disruption from Weather, Flooding, Vehicles, Property, Personal Accident Plans + Life Insurance, Travel Insurance + Flight Delays, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Individuals, Groups
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- AXA
- Blue Cross
- Etherisc
- Guardtime
- FidentiaX
- Lemonade
- Teambrella
- InsCoin
- B3i
- IBM
Highlights of The Blockchain Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Agricultural Insurance
- Event Disruption from Weather
- Flooding
- Vehicles
- Property
- Personal Accident Plans + Life Insurance
- Travel Insurance + Flight Delays
- Others
- By Application:
- Individuals
- Groups
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Blockchain Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Blockchain insurance is a new type of insurance that uses blockchain technology to manage and track claims. The system is designed to make it easier for insurers to identify and resolve disputes between policyholders and claimants.
Some of the major companies in the blockchain insurance market are AXA, Blue Cross, Etherisc, Guardtime, FidentiaX, Lemonade, Teambrella, InsCoin, B3i, IBM.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Blockchain Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Blockchain Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Blockchain Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Blockchain Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Blockchain Insurance Market Size & Forecast, 2018-2028
4.5.1 Blockchain Insurance Market Size and Y-o-Y Growth
4.5.2 Blockchain Insurance Market Absolute $ Opportunity
Chapter 5 Global Blockchain Insurance Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Blockchain Insurance Market Size Forecast by Type
5.2.1 Agricultural Insurance
5.2.2 Event Disruption from Weather
5.2.3 Flooding
5.2.4 Vehicles
5.2.5 Property
5.2.6 Personal Accident Plans + Life Insurance
5.2.7 Travel Insurance + Flight Delays
5.2.8 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Blockchain Insurance Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Blockchain Insurance Market Size Forecast by Applications
6.2.1 Individuals
6.2.2 Groups
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Blockchain Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Blockchain Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Blockchain Insurance Analysis and Forecast
9.1 Introduction
9.2 North America Blockchain Insurance Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Blockchain Insurance Market Size Forecast by Type
9.6.1 Agricultural Insurance
9.6.2 Event Disruption from Weather
9.6.3 Flooding
9.6.4 Vehicles
9.6.5 Property
9.6.6 Personal Accident Plans + Life Insurance
9.6.7 Travel Insurance + Flight Delays
9.6.8 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Blockchain Insurance Market Size Forecast by Applications
9.10.1 Individuals
9.10.2 Groups
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Blockchain Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe Blockchain Insurance Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Blockchain Insurance Market Size Forecast by Type
10.6.1 Agricultural Insurance
10.6.2 Event Disruption from Weather
10.6.3 Flooding
10.6.4 Vehicles
10.6.5 Property
10.6.6 Personal Accident Plans + Life Insurance
10.6.7 Travel Insurance + Flight Delays
10.6.8 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Blockchain Insurance Market Size Forecast by Applications
10.10.1 Individuals
10.10.2 Groups
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Blockchain Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Blockchain Insurance Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Blockchain Insurance Market Size Forecast by Type
11.6.1 Agricultural Insurance
11.6.2 Event Disruption from Weather
11.6.3 Flooding
11.6.4 Vehicles
11.6.5 Property
11.6.6 Personal Accident Plans + Life Insurance
11.6.7 Travel Insurance + Flight Delays
11.6.8 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Blockchain Insurance Market Size Forecast by Applications
11.10.1 Individuals
11.10.2 Groups
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Blockchain Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Blockchain Insurance Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Blockchain Insurance Market Size Forecast by Type
12.6.1 Agricultural Insurance
12.6.2 Event Disruption from Weather
12.6.3 Flooding
12.6.4 Vehicles
12.6.5 Property
12.6.6 Personal Accident Plans + Life Insurance
12.6.7 Travel Insurance + Flight Delays
12.6.8 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Blockchain Insurance Market Size Forecast by Applications
12.10.1 Individuals
12.10.2 Groups
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Blockchain Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Blockchain Insurance Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Blockchain Insurance Market Size Forecast by Type
13.6.1 Agricultural Insurance
13.6.2 Event Disruption from Weather
13.6.3 Flooding
13.6.4 Vehicles
13.6.5 Property
13.6.6 Personal Accident Plans + Life Insurance
13.6.7 Travel Insurance + Flight Delays
13.6.8 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Blockchain Insurance Market Size Forecast by Applications
13.10.1 Individuals
13.10.2 Groups
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Blockchain Insurance Market: Competitive Dashboard
14.2 Global Blockchain Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AXA
14.3.2 Blue Cross
14.3.3 Etherisc
14.3.4 Guardtime
14.3.5 FidentiaX
14.3.6 Lemonade
14.3.7 Teambrella
14.3.8 InsCoin
14.3.9 B3i
14.3.10 IBM
