The Slovenia Insurance Supervision Agency has published a research note on blockchain in insurance, describing how the technology could be used beyond cryptoassets for automated premium payments, faster claims payouts and smart contract-based processes. The note stresses that any such use would also need to address security, trust and regulatory compliance. Drawing on a seminar held at the Banking Association of Slovenia on 13 May 2026, the publication explains the main building blocks of blockchain, including cryptography, distributed databases and distributed consensus, and places smart contracts, tokenisation and Web3 in that context. For insurance, it says smart contracts could automate simple products and claims flows, but only where events can be verified through trusted external data sources known as oracles. It highlights objectively verifiable events such as flight delays, flight cancellations and certain weather events as more suitable than complex losses that require judgment, and points to key constraints including personal data protection, key management, oracle reliability, execution costs, coding errors, immutability of deployed smart contracts and compliance with frameworks such as MiCA and the DLT pilot.
Slovenia Insurance Supervision Agency2026-06-03
Slovenia Insurance Supervision Agency examines blockchain uses and limits for automated insurance payments and claims
The Slovenia Insurance Supervision Agency published a research note on blockchain in insurance, outlining uses such as automated premium payments, faster claims payouts and smart contract-based processes, while emphasising security, trust and regulatory compliance. It explains blockchain building blocks and concludes that smart contracts are better suited to objectively verifiable events, highlighting constraints around data protection, key management, oracle reliability, execution costs, coding errors, immutability and compliance with Markets in Crypto-Assets and the distributed ledger technology pilot.