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The Blockchain makes Smart Contracts possible: fully automated contracts that come into force under certain conditions. What began with the crypto currency Bitcoin is now also becoming interesting in the market for commercial and industrial insurance.
Digital solutions will increasingly help insurance brokers in their task. This is the message of the "BCA Press Dialogue 2018", which took place in Frankfurt am Main this year.
When it comes to insurance and digitization, many focus primarily on marketing and sales. Insurance companies, however, have some unique points of contact with their customers where they could really shine with digitization. This includes the processing of damages.
The discussion "Whom does the data belong to" is not only intensively discussed between insurers, brokers and companies in industrial insurance. The current discussion in the private motor insurance market shows the challenges of digitisation for all parties involved.