Adapt, adopt or die? With the US Congress now exploring Blockchain, is the technology now sufficiently mainstream to be considered for widespread adoption in Financial Services? If so, will Insurance be an early, or late, adopter ?
Insurance has a reputation for being a late adopter of technology, to suffer from a low level of client trust and to have inefficient (and often manual) processes. As a consequence, the adoption of a new technology that provides significant efficiency improvements, introduces systematic trust, allows comprehensive improvements to business processes and reduces the need for intermediaries, will disrupt existing incumbents if they choose to not exploit it.