Share this article
PwC to Investigate Blockchain's Potential in Wholesale Insurance
PwC is sponsoring new research into the blockchain's potential in the insurance industry, as well as the creation of a proof-of-concept prototype.
Updated Sep 11, 2021, 12:19 p.m. Published Jun 13, 2016, 9:08 p.m.
Professional services giant PwC is to launch a research project that will investigate the potential of blockchain tech in the wholesale insurance industry through a survey and proof-of-concept prototype.
The proposed study will be a collaboration between PwC – which is sponsoring the project – and the Z/Yen think tank's Long Finance initiative. According to a statement from Z/Yen, the work will bring together industry stakeholders including wholesale brokers, insurers and re-insurers to create "a common view of the potential benefits that blockchain could bring".
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The think tank said it will work with PwC to develop the report, making use of the 'Big Four' auditing firm's new blockchain research laboratory in Belfast to develop the proof-of-concept.
The study, involving a global survey of the industry, will aim to identify "priority business use cases" and develop a roadmap for future blockchain developments, according to the statement.
Participants expect the research will provide insight into current thinking around blockchain technology and help identify the potential for combined research into standards for the insurance industry.
"With a new technology like blockchain it's fundamental that you work in an agile way to prove that the technologies not only work, but provide the right solutions to specific business problems," said PwC partner Steve Webb, adding:
"Businesses need to build, learn from mistakes refine and improve."
Both the study and the proof-of-concept are expected to be completed in July.
Image via Sergey Kohl / Shutterstock.com
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
