Revolutionizing Insurance Sector in India: A Case of Blockchain Adoption Challenges
DOI:
https://doi.org/10.5281/zenodo.6853727Abstract
Background: Insurance concept was found numerous centuries before Christ (BC). Correspondingly, Chinese and Babylonian traders practiced moving or dispensing risks in 2nd and 3rd millennia BC. Now a days, insurance is the backbone of the economy but developing economies are facing challenges in increasing their penetration. The recent introduction of Big Data, IoT and InsurTech led to fourth industrial revolution in insurance in the developed world.
Objective: This study aims to explore the challenges and solutions in adopting blockchain technology to increase insurance penetration in India.
Research Methodology: This study applied a systematic literature review (SLR) to extract the themes/variables relating to challenges and solutions in adopting big data analytics in India's insurance sector. Several keywords were used to search relevant literature from Google Scholar. Based on inclusion and exclusion criteria, the filtered studies were explored.
Findings: This study listed several challenges and their solutions in the adoption of blockchain technology in Indian insurance industry. Policymakers could adapt to the suggestions provided in improving the service delivery insurance sector
##submission.downloads##
Pubblicato
Come citare
Fascicolo
Sezione
Licenza
Copyright (c) 2022 International Journal of Contemporary Economics and Administrative Sciences
TQuesto lavoro è fornito con la licenza Creative Commons Attribuzione 4.0 Internazionale.
The Author(s) must make formal transfer of copyright for each article prior to publication in the International Journal of Contemporary Economics and Administrative Sciences. Such transfer enables the Journal to defend itself against plagiarism and other forms of copyright infringement. Your cooperation is appreciated. You agree that copyright of your article to be published in the International Journal of Contemporary Economics and Administrative Sciences is hereby transferred, throughout the World and for the full term and all extensions and renewals thereof, to International Journal of Contemporary Economics and Administrative Sciences.
The Author(s) reserve(s): (a) the trademark rights and patent rights, if any, and (b) the right to use all or part of the information contained in this article in future, non-commercial works of the Author's own, or, if the article is a "work-for-hire" and made within the scope of the Author's employment, the employer may use all or part of the information contained in this article for intra-company use, provided the usual acknowledgements are given regarding copyright notice and reference to the original publication.
The Author(s) warrant(s) that the article is Author's original work, and has not been published before. If excerpts from copyrighted works are included, the Author will obtain written permission from the copyright owners and shall credit the sources in the article. The author also warrants that the article contains no libelous or unlawful statements, and does not infringe on the rights of others. If the article was prepared jointly with other Author(s), the Author agrees to inform the co-Author(s) of the terms of the copyright transfer and to sign on their behalf; or in the case of a "work-for-hire" the employer or an authorized representative of the employer.
The journal is registered with the ISSN : 1925-4423.
IJCEAS is licensed under a Creative Commons Attribution 4.0 International License.
This license lets others distribute, remix, tweak, and build upon your work, even commercially, as long as they credit you for the original creation. This is the most accommodating of licenses offered. Recommended for maximum dissemination and use of licensed materials.
