United States Blockchain in Insurance Market Transforms Claims & Fraud Management, Boosted by Smart Contracts & Regulatory Support | Key Companies: Mapfre, Max Life Insurance, Auxesis Group, KM Business Information US, Inc, Bitfury, IBM, SAP oracle

Global Blockchain in Insurance Market reached US$ 1.4 Billion in 2023 and is expected to reach US$ 15.0 Billion by 2031, growing with a CAGR of 34.5% during the forecast period 2024-2031.

The new report on the Blockchain in Insurance Market, published by DataM Intelligence provides a detailed analysis of market size, share, trends, and growth opportunities from 2024 to 2031. With comprehensive insights into industry dynamics, competitive landscape, and regional developments, this study helps businesses, investors, and stakeholders navigate the fast-evolving market landscape.

Get a Report Sample of Blockchain in Insurance Market @ https://www.datamintelligence.com/download-sample/blockchain-in-insurance-market?ophp

Blockchain in insurance applies distributed ledger technology to streamline claims, fraud detection, and policy management. In the U.S., insurers are investing heavily in blockchain pilots and consortia, driven by regulatory pressures, rising fraud cases, and the need for transparent and secure transactions.

Latest Industry Update from United States on Blockchain in Insurance Market:

United States: Recent Industry Developments

✅ In July 2025, MetLife launched a blockchain-powered claims automation platform. The system accelerates settlement times. It reduces fraud and enhances transparency for policyholders.

✅ In June 2025, Allstate invested $180 million in blockchain-based underwriting solutions. The technology improves risk assessment. It integrates real-time data from IoT and telematics.

✅ In May 2025, Prudential Financial partnered with IBM to pilot smart contract-driven life insurance products. The collaboration enables instant policy issuance. It strengthens customer trust in digital insurance solutions.
Blockchain in Insurance Market Key Companies:

The report profiles leading players shaping the Blockchain in Insurance Market, including:

Key Players

Mapfre, Max Life Insurance, Auxesis Group, KM Business Information US, Inc, Bitfury, IBM, SAP oracle, MetLife and Consensys.
These companies are adopting strategies such as product launches, mergers & acquisitions, and partnerships to expand their market footprint.

Growth Driver:

Blockchain adoption in the insurance sector is driven by the need for transparency, fraud prevention, and efficient claims processing. Growth is supported by rising demand for smart contracts, automated underwriting, and secure data sharing among insurers, customers, and regulators. Increasing adoption of blockchain consortia and collaborations across the insurance ecosystem further strengthens market expansion.

Latest Industry Update from Japan on Blockchain in Insurance Market:

Japan: Recent Industry Developments

✅ In July 2025, Sompo Holdings introduced a blockchain-enabled health insurance claims system. The platform simplifies reimbursement processes. It provides patients with real-time claim status updates.
✅ In June 2025, Tokio Marine Holdings invested in blockchain-based reinsurance platforms. The initiative enhances data security and efficiency in global risk-sharing. It positions Japan as a leader in digital insurance innovation.
✅ In May 2025, Nippon Life partnered with LayerX to deploy blockchain for customer onboarding and KYC. The solution ensures secure identity management. It accelerates digital policy issuance in Japan's insurance sector.

Comprehensive Market Segmentation:

The Blockchain in Insurance Market has been segmented to provide a clear understanding of its structure and dynamics. The report categorizes the market by product type, application, end-user industry, and region, offering detailed insights into each segment's growth potential. This segmentation helps stakeholders identify key opportunities, evaluate demand patterns, and develop targeted strategies to strengthen their market position.

By Component (Solution, Services) By Type (Private Blockchain, Public Blockchain) By Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises) By Application (GRC Management, Death and Claims Management, Identity Management and Fraud Detection, Payments, Others)

Regional Outlook Highlighting Growth:

• North America: Expected to dominate the Blockchain in Insurance market due to high technology adoption and strong industry presence.
• Europe: Witnessing steady growth in Blockchain in Insurance market, supported by sustainability initiatives and regulatory support.
• Asia-Pacific: Anticipated to be the fastest-growing region in the Blockchain in Insurance Market, led by rising demand in China, India, and Japan.
• Latin America & Middle East/Africa: Emerging Blockchain in Insurance markets offering untapped opportunities, particularly in Blockchain in Insurance.

Looking for in-depth insights? Grab the full report: https://www.datamintelligence.com/buy-now-page?report=equipment-as-a-service-market

FAQ
✅ What is the forecasted market growth for blockchain in the insurance sector?
✅ Which insurance applications (fraud detection, claims management, smart contracts) are adopting blockchain most rapidly?
✅ Who are the leading companies and startups shaping

Unlock 360° Market Intelligence with DataM Subscription Services: https://www.datamintelligence.com/reports-subscription?Harssh

Power your decisions with real-time competitor tracking, strategic forecasts, and global investment insights all in one place.

Contact Us -
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com

About Us -

DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.

Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.

This release was published on openPR.