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Introduction: Current state of the insurance market
Insurance whether mandatory, offering peace of mind, or necessary to protect ourselves and our assets is an essential part of most financial decisions. However, conventionally the insurance industry ranks at the top as one of the most paper heavy professions. Digitalization and automation can revolutionize the insurance industry. Blockchain technology and IoT give access to an unprecedented technological landscape to insurers in the way that it can reshape the insurance market structure. Now more than ever, provided these new age tools the insurance industry can keep up with the modernization of their environments.
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