Blockchain is set to impact the insurance market big time, and Microsoft finds itself among a list of other big players that will chart the path forward for this industry.
This has been revealed in a new report by Index Market Research, which provides a granular analysis of the new upgrades, censorious trends, current market pilots, challenges, standardization and technical domain of this business.
It covers the present scenario and the growth prospects of the blockchain insurance industry.
As per the report, the market size will maintain the average growth rate of 83.14% from $7 million in 2014 to $43 million in 2017. Analysts estimate that in the next few years, the market will further expand, and will reach $925 million by 2022.
Major players present in this domain including IBM, Microsoft, Oracle, AWS, SAP, Earthport, BTL Group, Bitpay, Bitfury, Circle, Cambridge Blockchain, Everledger and a bunch of others.
The report aims to establish a comprehensive and factual resource of information on the performance, capabilities, goals and strategies of some of the leading companies of the world that are investing in the blockchain technology.
It also identifies the latest developments in the blockchain for the insurance market, as well as the major problems and their solutions.
You can take a look at the report here.