A Bibliometric Analysis of Blockchain and Its Applications in the Insurance Industry

The objective of this research paper is a comprehensive study on how Blockchain can revolutionize Insurance sectors by improvising efficiency in gains and cost reductions and eliminating the duration taken for uncovering the information or fraudulent claims. This paper uses a narrative literature review approach. The critical aspect of this research paper lies in how effectively Insurance Industry is transforming and adapting to digital technology by employing blockchain in their process. In order to save time and lower their transactional costs by ensuring zero threat from cyberattacks, which is a key area to improve their customer experience and enhance their profits by retaining the old customers with utmost satisfaction. This study benefits insurers by saving their transactional costs, eliminating fraudulent crimes, and uncovering information.