What Insurance CIOs Need to Know About Blockchain


Archived Published: 18 May 2016 ID: G00303129

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Summary

A small sample of the overwhelming hype surrounding blockchain technology could easily prompt an insurance CIO to begin immediate plans for adoption. Insurance CIOs need to proceed with caution, as this technology is extremely immature and faces significant barriers to industrywide use.

Table of Contents

  • Analysis
  • Impacts and Recommendations
    • Blockchain technology offers insurance IT and business leaders a revolutionary approach to initiating, distributing and validating transactions that will fuel innovation and potentially drive radical new business models
    • Thorny questions about the very nature of blockchain technology and public versus private models will slow adoption efforts by insurance CIOs and contribute to a high rate of failures among early efforts
    • The unique and revolutionary nature of blockchain technology is alien to the experience of insurance IT and business leaders, and will make simple awareness and education key success factors
  • Gartner Recommended Reading
© 2016 Gartner, Inc. and/or its Affiliates. All Rights Reserved. Reproduction and distribution of this publication in any form without prior written permission is forbidden. The information contained herein has been obtained from sources believed to be reliable. Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although Gartners research may discuss legal issues related to the information technology business, Gartner does not provide legal advice or services and its research should not be construed or used as such. Gartner shall have no liability for errors, omissions or inadequacies in the information contained herein or for interpretations thereof. The opinions expressed herein are subject to change without notice.

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