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Browsing Social Sciences by Subject "Financial Engineering"

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    The Role of Blockchain Technology in Financial Engineering
    (Springer Singapore., 2021) Chakravaram, Venkamaraju; Ratnakaram, Sunitha; Agasha, Ester; Vihari, Nitin Simha
    Home ICCCE 2020 Conference paper The Role of Blockchain Technology in Financial Engineering Venkamaraju Chakravaram, Sunitha Ratnakaram, Ester Agasha & Nitin Simha Vihari Conference paper First Online: 12 October 2020 1344 Accesses 3 Citations Part of the Lecture Notes in Electrical Engineering book series (LNEE,volume 698) Abstract This research work is to study and list out the processes and operational areas where Blockchain Technology (BCT) is playing a greater role as a tool in the process of financial engineering (FE) in the insurance business. We studied the use of BCT as one of the InsurTech tools in the design and development of financially engineered insurance products. Here, the development of insurance products covers the design of new and innovative insurance policy models, its attractive features as per the needs and requirements of concerned target customers. Insurance processes cover the management and administration of insurance business i.e., marketing, sales and distribution, the underwriting process and claims management, etc. Financial Engineering is a process of creating a new and innovative insurance model by merging existing policy models OR creating a new and innovative insurance model. FE uses the tools and techniques of Statistics, Financial Mathematics, Econometrics, ICTs which includes, FinTech tools, InsurTech tools like Blockchain Technology, Artificial Intelligence, etc. In this research work, we used descriptive cum explorative research methodology. We have studied the role of BCT as an effective tool in the financial engineering process of the insurance business.