Insurance Through Blockchain: A Hybrid Approach

The insurance industry is ripe for disruption.  From cumbersome legacy technology systems to increasing competition and portfolio complexity, insurers face a raft of challenges.  To keep pace, a new approach is needed.  

I see potential to incorporate Blockchain technology into the traditional insurance model to create a new, hybrid approach that is able to capitalise on what has worked well while using Blockchain technologies to address some of the shortcomings in the existing insurance model.  

How might this new model actually work?  I've outlined a potential solution in the following white paper.