Blockchain can transform protection sector - Hymans Robertson

Julian Marr
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"Blockchain can prevent the protection sector from being irrelevant and unappealing to today’s customers" - Hymans Robertson's Richard Purcell
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"Blockchain can prevent the protection sector from being irrelevant and unappealing to today’s customers" - Hymans Robertson's Richard Purcell

Blockchain can play a crucial role in helping the insurance sector provide more flexible protection solutions to the UK's growing number of self-employed and 'gig economy' workers, according to Hymans Robertson.

In its newly published Protection Insurance Focus report, the actuarial and advisory consultancy argued blockchain has the potential to transform the protection insurance market and position it for future success "The industry can harness this decentralised digital ledger technology and shake up the way it creates products, preventing them from being irrelevant and unappealing to today's customers," it added. The report noted blockchain could, for example, be used to collate data from a range...

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