The article examines the current market and the state of insurance services and the impact on them with the advent of new Blockchain technology. A number of advantages and aspects from the moment of introduction and use of technology are considered. The interpretation and expediency of its appearance on the insurance market are given. The existing experience of international insurance companies that have introduced and supported this “digitalization” of services and the introduction of new registers has been studied. The domestic experience of the state concerning the successful application of this mechanism is analyzed and the areas where it would be expedient to introduce it in the future are considered. The conclusion is given and a number of advantages and guarantees concerning quality and proper provision of services in case of application of this technology are revealed.

Purpose: Analysis of international experience and practice in the introduction of Blockchain in financial markets and its emergence in the insurance segment. Impact and results of its application both abroad and at the national level.

Provided recommendations on the introduction of blockchain technology in the domestic insurance market, its feasibility and benefits, which in turn provides confidence and guarantees of the insurer’s obligations to policyholders. Thus, a much larger flow of clients and funds with investments will be attracted.

Bibliography

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