Blockchain-based insurance claims to exceed $10BN in cost savings by 2024
Hampshire, UK.18 January 2022 – A new report from Juniper Research has found that blockchain‑based insurance will transform claims administration; saving $10 billion (€8.77 billion) in costs globally by 2024, up from $1.1 billion (€0.96 billion) in 2021. Insurance providers will increasingly leverage the benefits of increased process transparency and real-time data sharing. Data on blockchain networks is accessible to all parties; eliminating duplication of effort and minimising fraud.
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