Blockchain-based insurance solutions have revolutionized the industry, creating a transparent and trustless ecosystem — with startups ch leads  like Lemonade or 3Bi building insurance products on the distributed ledger technology.

The global blockchain in insurance market is expected to reach $1.32 billion by 2024 at a 69.72% CAGR during 2019-2024. It means that the industry incessantly keeps giving in to the charms of blockchain-powered apps.