Allianz exec expresses insurers’ worst fears

Today at the London Blockchain Expo, several experts from leading insurers and startups discussed the future of insurance and blockchain. Oliver Volk, Blockchain Expert at Allianz Re, articulated the deep-seated fear that insurers initially had about blockchain.

Allianz perspectives

“At the very beginning when blockchain came up, there was the threat that everything between the policyholder and the capital market will be done with the help of blockchain. So there will be the policyholder and some automation in between and then the capital market,” said Volk. He continued: “That threat is not that big anymore, because reality has shown it’s very complicated. So we’re trying to optimize the processes step by step rather than disrupting the whole system, the whole value chain. But sooner or later there will be major changes affecting the whole value chain.”

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