Application of Digital Technologies in Determining the Amount of Compensation for Damages in Property Insurance Cover Image

Приложение на дигиталните технологии при определяне размера на обезщетението за вреди в имущественото застраховане
Application of Digital Technologies in Determining the Amount of Compensation for Damages in Property Insurance

Author(s): Ivelina Solakova
Subject(s): Economy, Socio-Economic Research
Published by: Институт за знание, наука и иновации ЕООД
Keywords: property insurance; insurance compensation; smart contract; blockchain

Summary/Abstract: The introduction of digital technologies in insurance is on the verge of changing the relationships between insurers and users of insurance services and bringing them to a new level. This report investigates the effectiveness of the application of smart contracts as a form of contracting based on blockchain technology in determining the amount of insurance compensation in property insurance. The report discusses the advantages and disadvantages of smart contracts, presents specific examples of their application in property insurance, and provides proposals de lege ferenda

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