InsurTech's big ticket items: machine learning on the blockchain » Brave New Coin

The widely-held hope is that blockchain technology could deliver a shared and transparent record of industry-wide contract and claims-related information. While smart contracts and claims automation are technically feasible using alternative technology, the addition of blockchain adds a level of transparency and trustworthiness. Crucially, blockchain can remove the need for a central authority to control operations, and places the customer in control of the relationship with the service supplier. For example, automated claims-handling processes based on blockchain technology, smart contracts and publicly available data can be developed. When a certain set of conditions is met, such as a flight being cancelled, the contract can be resolved automatically, without requiring additional assessment.