Blockchain - an Actuarial Perspective
The Risk Management in a Digital World working party of the Institute and Faculty of Actuaries presented a Sessional Event paper towards the end of 2018 which showed that, inter alia, Blockchain was the digital topic that actuaries felt least comfortable in explaining to their colleagues.
With this in mind, the working party has subsequently produced a practical guide for actuaries, risk professionals, insurance companies and their Boards on Blockchain, including an education element to ensure that all actuaries have a basic understanding of the practical aspects of the technology.
This presentation discusses the feasibility of real-world applications and use cases in insurance in order to illustrate the capability and limitations of the technology, while also considering the current risks and challenges in adopting the technology.