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THE RECENT EVOLUTION OF SMART CONTRACTS AND THEIR FAST ADOPTION ALLOW TO RETHINK PROCESSES AND TO CHALLENGE TRADITIONAL STRUCTURES. THEREFORE, WE INTRODUCE THE UNDERLYING TECHNOLOGY AND RECENT IMPROVEMENTS. FURTHER, WE PROVIDE AN OVERVIEW OF HOW THE INSURANCE SECTOR MAY BE AFFECTED BY BLOCKCHAIN TECHNOLOGY AND SMART CONTRACTS. WE SHOW AN EXEMPLARY USE CASE AND EMPHASIZE CURRENT CHALLENGES AND LIMITATIONS IN THIS AREA.
