From a strategic point of view, what are the opportunities for insurance companies behind the use of smart contracts through the blockchain technology

Abstract

This work was written in order to provide an answer to the following problematic: from a strategic point of view, what are the opportunities for insurance companies behind the use of smart contracts through the Blockchain technology. This issue represents a major technological challenge faced by insurance companies, as well as other industries. However, this is a relatively new technology that still raises many questions. Through this work, one aspect of this technology has been studied, the application of smart contracts in insurance companies. In a first step, a comprehensive and clear literature review was presented in order to understand and analyze the current knowledge regarding the smart contracts on the one hand, and the Blockchain technology on the other hand. First, an extensive research on smarts contracts was done in order to present a complete and clear presentation of them. Next, researches were conducted on the Blockchain technology to understand how it works, its principles and its characteristics. Smart contracts were introduced first to allow the reader to understand how they work and what they are useful for, and then the Blockchain was presented to give an overview of the issues involved. Then, a qualitative study on this theme was conducted in order to gather the opinions and knowledge of insurance experts and Blockchain experts. These were chosen on the basis of various criteria in order to receive their comments, which will bring an added value to this work. These data were then presented under different themes. Each theme was introduced and explained, and then the results of the qualitative interviews were presented and illustrated by the comments of the Blockchain experts and insurance experts. During the presentation of the results, certain facts were highlighted in order to be able to respond as fully as possible to the problematic addressed in this work, and to study in depth the various subjects also related to this research. Finally, a conclusion on the research carried out was presented on the basis of the various results obtained during the study and the literature review presented at the beginning of this work.