Banking giant Goldman Sachs recently released the eleventh edition of its annual insurance survey, and cryptocurrencies were included for the first time. The survey of 328 CIOs and CFOs showed that 6% of respondents have invested or are considering investing in cryptocurrencies.
These chief investment officers and chief financial officers account for nearly half of the $26 trillion global insurance industry, so Goldman Sachs believes the survey is very representative of the industry’s thinking. While the vast majority of insurers responded that they did not invest in cryptocurrencies and were not considering doing so, 6% or about 20 insurers responded in the affirmative, especially given the decline in the cryptocurrency market, a result that makes People are surprised.
While insurers may still be reluctant to invest directly in cryptocurrencies, they have long been strong proponents of blockchain technology, which in many ways is well-suited for those involved in extensive record-keeping, premium collection, tracking, the report said. The business of making claims and coordinating payments.
