-PDF Download- Applications Of Blockchain In The Automotive Insurance Industry A Model Development From The Perspective Of The Service Provider Sector EBOOK

Applications of Blockchain in the Automotive Insurance Industry. A Model Development from the Perspective of the Service Provider Sector

Author: Enrique Gil Ramirez

Publisher: GRIN Verlag

Published: 2020-10-20

Total Pages: 104

ISBN-13: 3346276600

Master's Thesis from the year 2018 in the subject Economics - International Economic Relations, Cologne Business School Köln, language: English, abstract: This research has been gathered together with the collaboration of Control Expert Company, a German company dedicated to providing services to the core business of the automotive insurance industry. This research is mainly focused on the different applications that Blockchain technology offers the automotive insurance industry. Based on these applications, a process model is developed from the perspective of the service provider sector of the automotive insurance. Having the main focus in mind, this research will answer the following question: How does Blockchain technology benefit the Automotive Insurance Process? The structure of this research will lead the reader through the evolution of the Blockchain technology and its features. First, a full definition of the technology will be explained. This will be followed by the generations of Blockchain and its classification. After that some history on regards Blockchain and the digital era will be mentioned. Such as the main innovations of the digital era, the creators of the technologies involved in Blockchain, and the main innovations within Blockchain. As the Internet of Things has become more and more popular during the last years, it is not possible to ignore the huge impact that it is having on people's daily lives. IoT represents a network of devices such as sensors, vehicles, computers and more, which interact among themselves and exchange information. Here comes a very interesting subcategory of the IoT – The Internet of People. The Internet of People describes the exchange of data through different devices but related to the people, or, in other words, the information gathered comes strictly from people. From this idea, the Internet of Money rises describing mainly how Blockchain and Bitcoin are changing the financial system. This is based on the idea of recording transactions in a safer way within a more decentralized system. Due to the strong disruption of Blockchain within different industries and the usability of the technology, it has been considered as an extra layer working over the internet. This is a new tier that enables transactions on a different level; permitting storage and record of data in a different way than a conventional database.

The Application of Emerging Technology and Blockchain in the Insurance Industry

Author: Kiran Sood

Publisher: CRC Press

Published: 2024-02-20

Total Pages: 372

ISBN-13: 1003811507

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This book is a unique guide to the disruptions, innovations, and opportunities that technology provides the insurance sector and acts as an academic/industry-specific guide for creating operational effectiveness, managing risk, improving financials, and retaining customers. It also contains the current philosophy and actionable strategies from a wide range of contributors who are experts on the topic. It logically explains why traditional ways of doing business will soon become irrelevant and therefore provides an alternative choice by embracing technology. Practitioners and students alike will find value in the support for understanding practical implications of how technology has brought innovation and modern methods to measure, control, and evaluation price risk in the insurance business. It will help insurers reduce operational costs, strengthen customer interactions, target potential customers to provide usage-based insurance, and optimize the overall business. Retailers and industry giants have made significant strides in adopting digital platforms to deliver a satisfying customer experience. Insurance companies must adjust their business models and strategies to remain competitive and take advantage of technology. Insurance companies are increasingly investing in IT and related technologies to improve customer experience and reduce operational costs. Innovation through new technologies is a key driver of change in the financial sector which is often accompanied by uncertainty and doubt. This book will play a pivotal role in risk management through fraud detection, regulatory compliances, and claim settlement leading to overall satisfaction of customers.

Handbook of Research on Blockchain Technology and the Digitalization of the Supply Chain

Author: Najar, Tharwa

Publisher: IGI Global

Published: 2023-06-06

Total Pages: 585

ISBN-13: 1668474573

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Blockchain is a recent technology that is promising to revolutionize the way supply chains are designed and operated. Regarding its role in securing exchanges of data, this technology has remarkably changed the manner of governing the structure of the supply chain relationships and the way that transactions are made. Blockchain technology is likely to influence future supply chain practices by performing electronic integration, supporting partners’ connections, and offering real-time information flows. Thus, blockchain technologies are gaining interest among both academicians and professionals. This interest concerns the conceptual level and also the practical and concrete levels of the implementation of blockchain technology in supply chains. The Handbook of Research on Blockchain Technology and the Digitalization of the Supply Chain presents blockchain’s basic concepts and pertinent methods that contributed to meeting key supply chain management objectives. It determines the current trends and challenges in the use of blockchain to enhance supply chain management. Covering topics such as communication systems, documentation systems, and supply chain evolution, this major reference work is an excellent resource for business leaders and managers, logistics professionals, IT managers, students and educators of higher education, librarians, researchers, and academicians.

Applications, Challenges, and Opportunities of Blockchain Technology in Banking and Insurance

Author: Gupta, S. L.

Publisher: IGI Global

Published: 2022-06-03

Total Pages: 303

ISBN-13: 1668441357

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The surge in technological transformation affects all business model phases over many industries. Emerging technologies provide new avenues for industries to increase their competitive advantage and enhance economic progression. Blockchain technology’s ability to build an open and trustworthy network model seems to promote shared IT-based networks in banking, insurance, and other similar industries. The adoption of blockchain in the banking and insurance industry is developing rapidly. Applications, Challenges, and Opportunities of Blockchain Technology in Banking and Insurance explores how blockchain technologies optimize and integrate the transactions and operations in association with access to information and reduction in communication costs and negligible data transfer errors. It includes studies on various banking and insurance industries intending to use blockchain technology to make transactions convenient, simple, and safe. Covering topics such as cryptocurrency, digital transformation, and small and medium-sized enterprises, this premier reference source is an essential resource for policymakers, government officials, students and educators of higher education, libraries, banking managers, insurance professionals, researchers, and academicians.

Handbook of Research on Blockchain Technology

Author: Saravanan Krishnan

Publisher: Academic Press

Published: 2020-02-04

Total Pages: 478

ISBN-13: 012820415X

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Handbook of Research on Blockchain Technology presents the latest information on the adaptation and implementation of Blockchain technologies in real world business, scientific, healthcare and biomedical applications. The book's editors present the rapid advancements in existing business models by applying Blockchain techniques. Novel architectural solutions in the deployment of Blockchain comprise the core aspects of this book. Several use cases with IoT, biomedical engineering, and smart cities are also incorporated. As Blockchain is a relatively new technology that exploits decentralized networks and is used in many sectors for reliable, cost-effective and rapid business transactions, this book is a welcomed addition on existing knowledge. Financial services, retail, insurance, logistics, supply chain, public sectors and biomedical industries are now investing in Blockchain research and technologies for their business growth. Blockchain prevents double spending in financial transactions without the need of a trusted authority or central server. It is a decentralized ledger platform that facilitates verifiable transactions between parties in a secure and smart way. Presents the evolution of blockchain, from fundamental theories, to present forms Explains the concepts of blockchain related to cloud/edge computing, smart healthcare, smart cities and Internet of Things (IoT) Provides complete coverage of the various tools, platforms and techniques used in blockchain Explores smart contract tools and consensus algorithms Covers a variety of applications with real world case studies in areas such as biomedical engineering, supply chain management, and tracking of goods and delivery

Evaluation of Potential Use Cases for Blockchain in the Insurance Industry

Author: Ricardo Escoda

Publisher: GRIN Verlag

Published: 2021-03-09

Total Pages: 112

ISBN-13: 334636027X

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Master's Thesis from the year 2020 in the subject Economics - Finance, grade: 1,3, International School of Management, Campus Munich, language: English, abstract: Blockchain is considered to be a breakthrough technology with many strengths and opportunities, but also weaknesses and threats for all industries around the globe. It has the potential to revolutionize many sectors, but it is not a universal remedy and does not replace every single traditional technology. Most businesses do feel insecure whether to invest time and money for Research and Development due to the lack of industry standards and regulations with respect to the technology. Before being able to guarantee suitability and successful implementation in any business, it is essential to study the differences between public, private, hybrid, and consortium Blockchain types. In areas of application not strongly relying on Blockchain’s distributed systems, alternative solutions such as Big Data Analytics, Artificial Intelligence, and Machine Learning might be more valuable. Nonetheless, Blockchain promises the unique potential for insurance companies to efficiently serve global markets with areas of application mainly concentrating on parts of the VC where bureaucracy can be reduced by automation. For instance, the use of Smart Contracts where lots of data are analyzed, saved, distributed, and pro- cessed. By implementing BC, fields, where the focus is on customer experience such as Payments, Data Security, Transparency, and Developing New Business and Product Ideas, can be improved enormously. Use cases and new products supported by Blockchain might include P2P Micro-Insurances, Ad-hoc and Parametric Insurance Models, Automized Underwriting, Reduction of Fraud and Abuse, and Health Insurance Processes. Real-Time Analytics in the Form of SCs, Instant Pay-Outs, Automized Claims Management, and Improved Risk Modelling of Insurance Businesses might be achievable by connecting Blockchain and Big Data. Contrary to the expectations of the author, most industry experts are aware of the benefits and opportunities the technology can bring to their companies. Still, Blockchain is not anchored in their medium- to long-term visions and strategies. Most of the interviewees would rather act as active observers and early followers than taking the lead proactively. Reasons for this behavior, are the lack of market standards and regulations, the absence of solid Blockchain networks, and the shortage of use cases, but also, the lack of know-how and data security concerns.

Application of Emerging Technology and Blockchain in the Insurance Industry

Author: Kiran Sood (Professor of business)

Publisher:

Published: 2023

Total Pages: 0

ISBN-13: 9781032630946

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Managing in a VUCA World

Author: Oliver Mack

Publisher: Springer

Published: 2015-07-15

Total Pages: 259

ISBN-13: 3319168894

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This book examines volatility, uncertainty, complexity and ambiguity (VUCA) and addresses the need for broader knowledge and application of new concepts and frameworks to deal with unpredictable and rapid changing situations. The premises of VUCA can shape all aspects of an organization. To cover all areas, the book is divided into six sections. Section 1 acts as an introduction to VUCA and complexity. It reviews ways to manage complexity, while providing examples for tools and approaches that can be applied. The main focus of Section 2 is on leadership, strategy and planning. The chapters in this section create new approaches to handle VUCA environments pertaining to these areas including using the Tetralemma logics, tools from systemic structural constellation (SySt) approach of psychotherapy and organizational development, to provide new ideas for the management of large strategic programs in organizations. Section 3 considers how marketing and sales are affected by VUCA, from social media’s influence to customer value management. Operations and cost management are highlighted in Section 4. This section covers VUCA challenges within global supply chains and decision-oriented controlling. In Section 5 organizational structure and process management are showcased, while Section 6 is dedicated to addressing the effects of VUCA in IT, technology and data management. The VUCA forces present businesses with the need to move from linear modes of thought to problem solving with synthetic and simultaneous thinking. This book should help to provide some starting points and ideas to deal with the next era. It should not be understood as the end of the road, but as the beginning of a journey exploring and developing new concepts for a new way of management.

Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

Author: El Bachir Boukherouaa

Publisher: International Monetary Fund

Published: 2021-10-22

Total Pages: 35

ISBN-13: 1589063953

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This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.

Applications of Blockchain Technology in Business

Author: Mohsen Attaran

Publisher: Springer Nature

Published: 2019-09-25

Total Pages: 112

ISBN-13: 3030277984

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The book discusses the various ways that blockchain technology is changing the future of money, transactions, government, and business. The first two chapters walk through the foundation of blockchain. Chapters 3–12 look at applications of blockchain in different industries and highlight its exciting new business applications. It show why so many companies are implementing blockchain, and present examples of companies who have successfully employed the technology to improve efficiencies and reduce costs. Chapter 13 highlights blockchain’s powerful potential to foster emerging markets and economies including smart cities, value-based healthcare, decentralized sharing economy, machine to machine transactions, data-sharing marketplace, etc. Chapter 14 offers a conceptual model, provides information and insights, and covers a step-by-step approach to plan and develop blockchain-based technology.