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Blockchain in Health Blockchain in Health

Blockchain in health and life insurance

Health and life insurers are among the many players scrambling to determine how blockchain could be adapted to improve the way they maintain records, execute transactions, and interact with stakeholders. Key questions center on whether blockchain’s unique attributes could help insurers cut costs, manage risk, improve customer service, grow their business, and, ultimately, bolster the bottom line.

Deloitte’s Center for Health Solutions and Center for Financial Services recently partnered on a crowdsourcing research project to look into how health and life insurers might leverage blockchain and related technologies to strengthen key elements of an insurer’s value proposition. The crowd’s mission was to brainstorm how this emerging technology could be applied by insurers in the next five to 10 years to improve current standard operating procedures and systems while enhancing the customer experience.

So, what did we find? Six use cases that are the most realistic and promising for health and life insurers. While it is still early in the adoption curve, the applications explored here provide a starting point for insurers looking to unlock the potential of blockchain. Scroll down to explore these use cases and download the report for additional insights.