Blockchain is entering in every possible insutry out there. Healthcare and insurance already has some of the players into it. By using the blockchain a lot of manual hard work process of claims, tracking and the public view of the data can be achieved through blockchain deployment. 

Companies like ANZ, Allianz and many other players from US, Singapore, Australia are already into the insurance space. They seem to be finding the deployment of the insurance data into the chain lot easier for their use case. 

Let's take a look at how the insurance industry is benefitting from the blockchain. Here are some of the ways it can add value to the blockchain space. 

![Thumbnails.png](https://i.imgur.com/LTqthKL.png)


### Policies on Chain
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A lot of policies are out there. And keeping track of their validity, updates and the claims become harder on traditional database. By putting them on the blockchain a lot of historic data can be deployed. 

Analytics becomes lot easier on blockchain. Depending on the type of chain used, it would be even better for keeping such data private and in some claims specific context public for users to extract information. 

Blockchain in this context can be a good solution. 


### Healthtrack on Blockchain Data
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Sometimes you don't know how many medicine and which medicines are being used by you and the hospital. So the blockchain data if used to track those things through the healthcare tracking can be a good option long term. 

Healthcare tracking is going to be a use case that is the most important in the market. If you can track the health on the chain and get the data to the doctors that would help them and also the pharma needs such data too. 

Healthcare data is the gold mine for pharma, doctors and the researchers. 

### Claims and Smart Contracts
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If it's life insurance then claims are what is always in the conflict for consumers. And a lot of that data needs open or atleast need to be in hands of those who settle things. In such case having the smart contracts for the claims and the tracking is a good thing. 

Insurance industry benefits from the smart contracts and the ledger system. It would be reasonable to see how the progress can be made here and make it easier for people to get benefits of the insurance. 


Insurance industry in 2024 would be exploding with a lot of things done through AI and blockchain. We are going to be seeing a lot of interesting data in this space. 

What do you think is the future of the blockchain in Insurance industry?





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