A Preliminary Study of the Impact of Blockchain Technology on the Application Level of Insurance Industry

“Blockchain”, a kind of technology that may affect insurance industry in future, is considered to be a breakthrough technology that will bring a huge influence on different fields. Therefore, it gets more and more attention from the academic circle and industries. The purpose of this study is to explore the influence of blockchain on insurance industry and view the development possibility of domestic insurance companies in future through blockchain. This study will define blockchain by citing literature and analyze the current status of blockchain and its opportunities to develop in future in insurance industry through the in-depth interview with the experts in insurance industry who have knowledge of blockchain. This study finds from the interview that the application of blockchain in insurance industry will change the existing system greatly, while it is just not mature currently.