A. INTRODUCTION

Over the years, the insurance industry has been one of the late adopters of technology across its value chain. However, this has improved in the recent past with the proliferation of insurtech initiatives in different parts of the world including Africa. There is a growing consensus among industry stakeholders that technology is one of the dominant forces that will shape the future of the industry considering the myriad of challenges begging for answers particularly high expense ratios and operational costs which have led to increasing pressure on profit margins. Today, the adoption of technology is no longer a luxury but a necessary business enabler across different industries and the insurance industry is not an exception. One of the technologies expected to bring significant value proposition to the insurance industry is blockchain/Distributed Ledger Technology (DLT).