보험용 블록체인 시장 규모, 점유율, 성장 및 세계 산업 분석 : 유형별, 용도별, 지역별 인사이트와 예측(2026-2034년)

Growth Factors of blockchain in insurance Market

The global blockchain in insurance market was valued at USD 2.96 billion in 2025 and is projected to reach USD 4.74 billion in 2026, eventually growing to USD 95.97 billion by 2034, registering an impressive CAGR of 45.60% during the forecast period. North America dominated the market in 2025 with a share of 34.20%, driven by early adoption of emerging technologies, robust financial infrastructure, and the presence of key market players leveraging blockchain to improve transparency and efficiency in insurance processes.

Blockchain technology in insurance provides a shared distributed ledger that records the entire transaction history of individuals, enabling insurers and end-users to prevent, detect, and counter fraud in claims processing. The transparency offered by blockchain ensures that once claims are recorded on a peer-to-peer blockchain network, they cannot be easily modified, reducing the risk of fraudulent activities. Despite the technology being in its nascent stage, with many projects still at the concept or pilot phase, investments in automated claims management and blockchain solutions are steadily increasing, paving the way for future adoption.

COVID-19 Impact

The pandemic moderately affected market growth due to slower adoption of blockchain technology among insurers. Platforms such as AXA's blockchain-based Fizzy were discontinued due to insufficient demand and limited distribution channels. However, companies continued to explore real-time applications of blockchain. For instance, Marsh launched its Risk Exchange platform in September 2019 to digitize payments, documents, and invoices on blockchain, enabling real-time insurance placement updates. Similarly, in 2019, B3i raised USD 16 million to develop a blockchain trading platform aimed at revolutionizing insurance.

Market Trends

• Blockchain Adoption in Insurance Solutions: Insurers are gradually exploring blockchain for personalized, instant, and automated insurance solutions. For example, in February 2023, India's IRDAI emphasized using public blockchain and Web3 technologies to build next-generation insurance products.
• Industry Collaborations: Partnerships are increasing to combine blockchain expertise with insurance applications. Initiatives like Achmea joining B3i in November 2023 highlight growing industry interest.

Growth Factors

• Strategic Alliances: Collaborations between insurers and technology providers are expanding blockchain capabilities. HCL Technologies partnered with R3 in 2020 to launch BUILDINGBLOCK, a blockchain platform for multinational property insurance, streamlining processes and improving efficiency.
• Automated Claims Management: Rising popularity of automated claims and smart contract solutions is driving adoption. Blockchain reduces paperwork, accelerates claim settlements, and enhances operational transparency.

Restraints

The market faces challenges due to lack of standardization, high initial costs, and security constraints. Blockchain requires strict protocols to operate efficiently. Missteps in implementation or insufficient adoption may lead to financial losses. Additionally, potential cyberattacks remain a concern, restraining widespread adoption.

Market Segmentation

By Provider:

• Infrastructure and Protocol Providers dominated the early-stage market in 2024.
• Application and Solution Providers are expected to grow at the highest CAGR, accounting for 42.18% market share in 2026, driven by increasing adoption of blockchain-based insurance applications.

By Enterprise Type:

• Large Enterprises led with 46.40% market share in 2026, as these companies adopt blockchain to manage high-value transactions and claims. SMEs show slower adoption but are expected to grow rapidly as the market matures.

By Application:

• Claims Management held the largest share of 21.58% in 2026 due to increasing adoption of automated solutions.
• Payments and smart contract applications are projected to see rapid growth as programmable, blockchain-based payments gain popularity.

Regional Insights

• North America: Market valued at USD 1.01 billion in 2025, projected to reach USD 1.16 billion by 2026, led by the U.S., where blockchain adoption improves efficiency and reduces fraud.
• Asia Pacific: Fastest-growing region, driven by digital transformation among insurers. Japan, China, and India markets are projected to reach USD 0.26 billion, 0.29 billion, and 0.26 billion by 2026, respectively.
• Europe: Steady growth, with UK and Germany markets projected at USD 0.28 billion and 0.27 billion by 2026, reflecting ongoing proof-of-concept blockchain deployments.
• South America and Middle East & Africa: Slower adoption due to limited technological penetration and smaller-scale development strategies.

Key Players

Prominent companies leading blockchain adoption in insurance include CONSENSYS (U.S.), IntellectEU, ChainThat (U.K.), Etherisc (Germany), IBM Corporation, Guardtime (Estonia), Teambrella (U.S.), B3i (Switzerland), Tierion (U.S.), and Deloitte (U.S.). These companies focus on innovation, strategic partnerships, and development of blockchain-enabled insurance platforms.

Key Industry Developments

• June 2023: JPMorgan collaborated with six Indian banks to launch a blockchain-based U.S. dollar settlement platform.
• December 2022: Italy adopted Algorand blockchain technology for banking and insurance systems.
• September 2022: Ant Group launched the Xingyun blockchain platform for insurance operations in China.
• November 2020: B3i Services AG partnered with TCS to enhance insurance digitization via blockchain.
• July 2019: Aon, Etherisc, and Oxfam launched a blockchain agricultural insurance platform for small farmers in Sri Lanka.

Conclusion

The blockchain in insurance market is set to grow from USD 2.96 billion in 2025 to USD 95.97 billion by 2034, driven by strategic alliances, automated claims management, and blockchain adoption across applications. North America leads in adoption, while Asia Pacific shows the fastest growth. As blockchain technology matures, it is expected to enhance transparency, reduce fraud, and streamline insurance operations globally.

Segmentation By Provider

• Application and Solution Provider
• Middleware Provider
• Infrastructure and Protocols Provider

By Enterprise Type

• SMEs
• Large Enterprises

By Application

• GRC Management
• Claims Management
• Identity Management and Fraud Detection
• Payments
• Smart Contracts
• Others (Customer Communication etc.)

By Region

• North America (By Provider, By Enterprise Type, By Application, and By Country)
  • U.S.
  • Canada
  • Mexico
• South America (By Provider, By Enterprise Type, By Application, and By Country)
  • Brazil
  • Argentina
  • Rest of South America
• Europe (By Provider, By Enterprise Type, By Application, and By Country)
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Russia
  • Benelux
  • Nordics
  • Rest of EU
• Middle East & Africa (By Provider, By Enterprise Type, By Application, and By Country)
  • Turkey
  • Israel
  • GCC
  • North Africa
  • South Africa
  • Rest of Middle East & Africa
• Asia Pacific (By Provider, By Enterprise Type, By Application, and By Country)
  • China
  • Japan
  • India
  • South Korea
  • ASEAN
  • Oceania
  • Rest of Asia Pacific

Table of Content

1. Introduction

• 1.1. Definition, By Segment
• 1.2. Research Methodology/Approach
• 1.3. Data Sources

2. Executive Summary

3. Market Dynamics

• 3.1. Macro and Micro Economic Indicators
• 3.2. Drivers, Restraints, Opportunities and Trends
• 3.3. Impact of COVID-19

4. Competition Landscape

• 4.1. Business Strategies Adopted by Key Players
• 4.2. Consolidated SWOT Analysis of Key Players
• 4.3. Global Blockchain in Insurance Key Players Market Share/Ranking, 2025

5. Global Blockchain in Insurance Market Size Estimates and Forecasts, By Segments, 2021-2034

• 5.1. Key Findings
• 5.2. By Provider (USD)
  • 5.2.1. Application and Solution Provider
  • 5.2.2. Middleware Provider
  • 5.2.3. Infrastructure and Protocols Provider
• 5.3. By Enterprise Type (USD)
  • 5.3.1. SMEs
  • 5.3.2. Large Enterprises
• 5.4. By Application (USD)
  • 5.4.1. GRC Management
  • 5.4.2. Claims Management
  • 5.4.3. Identity Management and Fraud Detection
  • 5.4.4. Payments
  • 5.4.5. Smart Contracts
  • 5.4.6. Others (Customer Communication, and others)
• 5.5. By Region (USD)
  • 5.5.1. North America
  • 5.5.2. South America
  • 5.5.3. Europe
  • 5.5.4. Middle East & Africa
  • 5.5.5. Asia Pacific

6. North America Blockchain in Insurance Market Size Estimates and Forecasts, By Segments, 2021-2034

• 6.1. Key Findings
• 6.2. By Provider (USD)
  • 6.2.1. Application and Solution Provider
  • 6.2.2. Middleware Provider
  • 6.2.3. Infrastructure and Protocols Provider
• 6.3. By Enterprise Type (USD)
  • 6.3.1. SMEs
  • 6.3.2. Large Enterprises
• 6.4. By Application (USD)
  • 6.4.1. GRC Management
  • 6.4.2. Claims Management
  • 6.4.3. Identity Management and Fraud Detection
  • 6.4.4. Payments
  • 6.4.5. Smart Contracts
  • 6.4.6. Others (Customer Communication, and others)
• 6.5. By Country (USD)
  • 6.5.1. United States
  • 6.5.2. Canada
  • 6.5.3. Mexico

7. South America Blockchain in Insurance Market Size Estimates and Forecasts, By Segments, 2021-2034

• 7.1. Key Findings
• 7.2. By Provider (USD)
  • 7.2.1. Application and Solution Provider
  • 7.2.2. Middleware Provider
  • 7.2.3. Infrastructure and Protocols Provider
• 7.3. By Enterprise Type (USD)
  • 7.3.1. SMEs
  • 7.3.2. Large Enterprises
• 7.4. By Application (USD)
  • 7.4.1. GRC Management
  • 7.4.2. Claims Management
  • 7.4.3. Identity Management and Fraud Detection
  • 7.4.4. Payments
  • 7.4.5. Smart Contracts
  • 7.4.6. Others (Customer Communication, and others)
• 7.5. By Country (USD)
  • 7.5.1. Brazil
  • 7.5.2. Argentina
  • 7.5.3. Rest of South America

8. Europe Blockchain in Insurance Market Size Estimates and Forecasts, By Segments, 2021-2034

• 8.1. Key Findings
• 8.2. By Provider (USD)
  • 8.2.1. Application and Solution Provider
  • 8.2.2. Middleware Provider
  • 8.2.3. Infrastructure and Protocols Provider
• 8.3. By Enterprise Type (USD)
  • 8.3.1. SMEs
  • 8.3.2. Large Enterprises
• 8.4. By Application (USD)
  • 8.4.1. GRC Management
  • 8.4.2. Claims Management
  • 8.4.3. Identity Management and Fraud Detection
  • 8.4.4. Payments
  • 8.4.5. Smart Contracts
  • 8.4.6. Others (Customer Communication, and others)
• 8.5. By Country (USD)
  • 8.5.1. United Kingdom
  • 8.5.2. Germany
  • 8.5.3. France
  • 8.5.4. Italy
  • 8.5.5. Spain
  • 8.5.6. Russia
  • 8.5.7. Benelux
  • 8.5.8. Nordics
  • 8.5.9. Rest of Europe

9. Middle East & Africa Blockchain in Insurance Market Size Estimates and Forecasts, By Segments, 2021-2034

• 9.1. Key Findings
• 9.2. By Provider (USD)
  • 9.2.1. Application and Solution Provider
  • 9.2.2. Middleware Provider
  • 9.2.3. Infrastructure and Protocols Provider
• 9.3. By Enterprise Type (USD)
  • 9.3.1. SMEs
  • 9.3.2. Large Enterprises
• 9.4. By Application (USD)
  • 9.4.1. GRC Management
  • 9.4.2. Claims Management
  • 9.4.3. Identity Management and Fraud Detection
  • 9.4.4. Payments
  • 9.4.5. Smart Contracts
  • 9.4.6. Others (Customer Communication, and others)
• 9.5. By Country (USD)
  • 9.5.1. Turkey
  • 9.5.2. Israel
  • 9.5.3. GCC
  • 9.5.4. North Africa
  • 9.5.5. South Africa
  • 9.5.6. Rest of MEA

10. Asia Pacific Blockchain in Insurance Market Size Estimates and Forecasts, By Segments, 2021-2034

• 10.1. Key Findings
• 10.2. By Provider (USD)
  • 10.2.1. Application and Solution Provider
  • 10.2.2. Middleware Provider
  • 10.2.3. Infrastructure and Protocols Provider
• 10.3. By Enterprise Type (USD)
  • 10.3.1. SMEs
  • 10.3.2. Large Enterprises
• 10.4. By Application (USD)
  • 10.4.1. GRC Management
  • 10.4.2. Claims Management
  • 10.4.3. Identity Management and Fraud Detection
  • 10.4.4. Payments
  • 10.4.5. Smart Contracts
  • 10.4.6. Others (Customer Communication, and others)
• 10.5. By Country (USD)
  • 10.5.1. China
  • 10.5.2. India
  • 10.5.3. Japan
  • 10.5.4. South Korea
  • 10.5.5. ASEAN
  • 10.5.6. Oceania
  • 10.5.7. Rest of Asia Pacific

11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)

• 11.1. CONSENSYS
  • 11.1.1. Overview
    • 11.1.1.1. Key Management
    • 11.1.1.2. Headquarters
    • 11.1.1.3. Offerings/Business Segments
  • 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.1.2.1. Employee Size
    • 11.1.2.2. Past and Current Revenue
    • 11.1.2.3. Geographical Share
    • 11.1.2.4. Business Segment Share
    • 11.1.2.5. Recent Developments
• 11.2. IntellectEU, Inc.
  • 11.2.1. Overview
    • 11.2.1.1. Key Management
    • 11.2.1.2. Headquarters
    • 11.2.1.3. Offerings/Business Segments
  • 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.2.2.1. Employee Size
    • 11.2.2.2. Past and Current Revenue
    • 11.2.2.3. Geographical Share
    • 11.2.2.4. Business Segment Share
    • 11.2.2.5. Recent Developments
• 11.3. ChainThat
  • 11.3.1. Overview
    • 11.3.1.1. Key Management
    • 11.3.1.2. Headquarters
    • 11.3.1.3. Offerings/Business Segments
  • 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.3.2.1. Employee Size
    • 11.3.2.2. Past and Current Revenue
    • 11.3.2.3. Geographical Share
    • 11.3.2.4. Business Segment Share
    • 11.3.2.5. Recent Developments
• 11.4. Etherisc
  • 11.4.1. Overview
    • 11.4.1.1. Key Management
    • 11.4.1.2. Headquarters
    • 11.4.1.3. Offerings/Business Segments
  • 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.4.2.1. Employee Size
    • 11.4.2.2. Past and Current Revenue
    • 11.4.2.3. Geographical Share
    • 11.4.2.4. Business Segment Share
    • 11.4.2.5. Recent Developments
• 11.5. IBM Corporation
  • 11.5.1. Overview
    • 11.5.1.1. Key Management
    • 11.5.1.2. Headquarters
    • 11.5.1.3. Offerings/Business Segments
  • 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.5.2.1. Employee Size
    • 11.5.2.2. Past and Current Revenue
    • 11.5.2.3. Geographical Share
    • 11.5.2.4. Business Segment Share
    • 11.5.2.5. Recent Developments
• 11.6. Guardtime
  • 11.6.1. Overview
    • 11.6.1.1. Key Management
    • 11.6.1.2. Headquarters
    • 11.6.1.3. Offerings/Business Segments
  • 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.6.2.1. Employee Size
    • 11.6.2.2. Past and Current Revenue
    • 11.6.2.3. Geographical Share
    • 11.6.2.4. Business Segment Share
    • 11.6.2.5. Recent Developments
• 11.7. Teambrella
  • 11.7.1. Overview
    • 11.7.1.1. Key Management
    • 11.7.1.2. Headquarters
    • 11.7.1.3. Offerings/Business Segments
  • 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.7.2.1. Employee Size
    • 11.7.2.2. Past and Current Revenue
    • 11.7.2.3. Geographical Share
    • 11.7.2.4. Business Segment Share
    • 11.7.2.5. Recent Developments
• 11.8. B3i
  • 11.8.1. Overview
    • 11.8.1.1. Key Management
    • 11.8.1.2. Headquarters
    • 11.8.1.3. Offerings/Business Segments
  • 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.8.2.1. Employee Size
    • 11.8.2.2. Past and Current Revenue
    • 11.8.2.3. Geographical Share
    • 11.8.2.4. Business Segment Share
    • 11.8.2.5. Recent Developments
• 11.9. Tierion
  • 11.9.1. Overview
    • 11.9.1.1. Key Management
    • 11.9.1.2. Headquarters
    • 11.9.1.3. Offerings/Business Segments
  • 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.9.2.1. Employee Size
    • 11.9.2.2. Past and Current Revenue
    • 11.9.2.3. Geographical Share
    • 11.9.2.4. Business Segment Share
    • 11.9.2.5. Recent Developments
• 11.10. Deloitte
  • 11.10.1. Overview
    • 11.10.1.1. Key Management
    • 11.10.1.2. Headquarters
    • 11.10.1.3. Offerings/Business Segments
  • 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
    • 11.10.2.1. Employee Size
    • 11.10.2.2. Past and Current Revenue
    • 11.10.2.3. Geographical Share
    • 11.10.2.4. Business Segment Share
    • 11.10.2.5. Recent Developments

12. Key Takeaways