The financial services industry provides the economic backbone for institutions, organizations, and individuals to operate in a well-defined digital environment today. Although financial services maintain a good reputation as one of the earlier adopters of all technologies, the same may not apply to the blockchain technologies. This may be due to the complications that arise from the transparency achieved in the process. However, we must understand that the application of blockchain with AI is almost inevitable at this point because most tech companies are starting to provide banking and insurance solutions to customers. This is clearly disintermediating people from traditional banks and insurance companies. In the interest of future usage, I suggest that you consider developing applications in the following use cases.
In the following sections, we will cover the issues faced by the insurance sector in the financial services domain and...