The use of blockchain in the insurance industry: A bibliometric analysis

Abstract

Blockchain technology has surfaced as a formidable catalyst, capable of reshaping the operational dynamics of conventional businesses. The integration of blockchain technology within the insurance industry has prompted a need for comprehensive understanding and assessment. This study aims to elucidate the relevance of blockchain in the insurance sector, identify key trends, influential research, and the overarching goals motivating the incorporation of blockchain in insurance practices. The study employed a systematic review to collect 125 research articles published between 2017 and 2023 focused on blockchain in insurance from the Web of Science database. This study used Biblioshiny. The analysis encompasses a wide range of parameters, including publication trends, influential authors, thematic clusters, and the geographic distribution of research. IEEE Access emerges as a prominent platform, hosting 11 articles dedicated to this topic. The results of keyword co-occurrence highlighted two keywords: blockchain and insurance. The results of the country collaboration map highlighted particular shortcomings, such as the concentration of research in countries like China, the USA, India, KSA, Malaysia, and Australia. A lack of research in developing and underdeveloped countries and insufficient knowledge sharing among researchers highlights a research gap. In conclusion, the analysis offers valuable insights into the evolving landscape of blockchain within the insurance industry.