Digital Transformation in Indian Insurance Industry – A Case Study

Desikan, Jayameena; Devi, Arikketh

doi:10.5281/zenodo.5607469

Cited by 1 publication

(2 citation statements)

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“…Moreover, the ability to automate various processes through smart contracts can streamline operations and reduce costs. [9]…”

Section: Benefits Of Using Hyperledger In the Insurance Sectormentioning

confidence: 99%

“…The case study highlights the positive impact of digital transformation on the insurance industry, emphasizing the role of innovative technologies in fostering organizational efficiency. [9] German Insurance Company A large-scale project at a prominent German insurance company demonstrated the successful integration of Lean and Six Sigma methodologies in the insurance sector. The case study provides insights into how these methodologies can be adapted and combined productively to align with a company's strategy and goals, potentially offering a blueprint for the integration of Hyperledger and other advanced technologies.…”

Section: Hdfc Ergo General Insurance Companymentioning

confidence: 99%

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Blockchain with Hyperledger and AI-Driven Smart Contracts: Revolutionizing the Insurance Industry

Bodemer

2023

Preprint

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<p>In the evolving landscape of the insurance industry, the integration of advanced technologies offers transformative potential. This research explores the amalgamation of Blockchain technology, specifically through the Hyperledger platform, with AI-enhanced smart contracts to address prevailing challenges in the insurance sector. Utilizing a mixed-methods approach, the efficacy of Hyperledger-based systems in streamlining insurance operations and the augmentation of smart contracts with AI algorithms for improved automation and decision-making were examined. Preliminary findings indicate that the combined application of Hyperledger and AI-driven smart contracts can significantly enhance transparency, reduce fraudulent claims, and optimize risk assessment processes. However, the implementation of these technologies also presents certain technical and regulatory challenges. This study provides a foundational understanding for stakeholders in the insurance domain, emphasizing the strategic advantages and potential pitfalls of embracing this technological convergence. </p>

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“…Moreover, the ability to automate various processes through smart contracts can streamline operations and reduce costs. [9]…”

Section: Benefits Of Using Hyperledger In the Insurance Sectormentioning

confidence: 99%

Section: Hdfc Ergo General Insurance Companymentioning

confidence: 99%