The insurance industry has been hit by the digitalisation of business. This
article deals with blockchain technology and smart contracts and their application
within the insurance sector. First, the basic functioning and innovative character of
Für die Unterstützung bei der wissenschaftlichen Recherche bedanken sich die Autoren bei Frau Ref.
jur. Claudia Willmer.
B Dr. M. Kaulartz
markus.kaulartz@cms-hs.com
Dr. F. Püttgen
frank.puettgen@cms-hs.com
1 CMS Hasche Sigle, Kranhaus 1, Im Zollhafen 18, 50678 Köln, Deutschland
2 CMS Hasche Sigle, Nymphenburger Straße 12, 80335 München, Deutschland
250 Dr. F. Püttgen, Dr. M. Kaulartz
the blockchain technology are explained. In addition, the insurers’ interest which was
aroused by the technology, is shown by means of the “Blockchain Insurance Industry
Initiative”. The method of automated performance of smart contracts is specified and
legally classified. Furthermore, the regulatory challenges ahead are outlined. Finally,
areas of application in the insurance industry serve to deepen the understanding of
both technologies.
Keywords Digitali

EB00000004384K

Available

• Versicherung 4.0 Nutzung der Blockchain-Technologie und von Smart Contracts im Versicherungsbereich Insurance 4.0 The use of blockchain technology and of Smart Contracts in the Insurance Sector