Blockchain has the potential to transform wholesale insurance: PwC
Research sponsored by PwC shows the wholesale insurance market is keen to implement blockchain-based solutions, however, 57% of those surveyed conceded they did not know how to progress. The technology is expected to transform the way the industry operates, bringing cost savings, improved efficiency and fuelling revenue growth with a high-quality service resulting from better accuracy and fewer errors. The report outlines three areas where blockchain technology could have the greatest impact on wholesale insurance; placement process, claims management and compliance tasks.

How PwC can help

We focus on the future of financial services, effectively working with clients as they reevaluate their strategies in light of the COVID-19 pandemic, while advising on key issues such as the impact of risk and regulation, cyber and financial crime, new financial service technologies and FinTech, and the changing face of the customer.