Blockchain_Tara_Abu-Assab_Ashour.sav

This research explores the positive prospects of using blockchain technology as a mitigation measure by employing a decentralized, transparent, and distributed digital ledger in the insurance sector to help Palestinian insurance companies overcome these challenges and enhance their efficiency. It describes the current situation of insurance operations and procedures in Palestine, highlighting inefficient processes that blockchain-based solutions could address. A mixed-methods approach included qualitative and quantitative data collection and analysis. The research examines the effect of applying blockchain technology to different insurance processes, such as data security and transparency, automation, risk assessment, and fraud detection. Data was collected through five expert interviews and fifty distributed questionnaires in collaboration with local insurance companies and agents. In conclusion, the research reveals that blockchain technology can extensively impact the insurance sector and its organization. It can benefit and enhance efficiency.