IoT Adoption Challenges and Solutions in Kenya

Authors

  • Noman Arshed Sunway University Malaysia Author
  • Marium Saeed University of Management and Technology, Lahore Author

DOI:

https://doi.org/10.63740/0d20qx05

Keywords:

Blockchain, Insurance, IoT, Kenya, Digital Finance

Abstract

Background: The idea of insurance was discovered several millennia before Christ (BC). In the second
and third millennia BC, traders from China and Babylonia practiced shifting or dispersing risks.
Today, insurance is the foundation of the economy, but expanding its penetration is difficult in
emerging nations. The fourth insurance industry revolution in the developed world was sparked by
the recent advent of Blockchain, IoT, Big Data, and InsurTech.
Objective: In order to boost insurance coverage in Kenya, this study examines the problems with and
potential solutions to Blockchain.
Research Methodology: In order to identify the themes and factors pertaining to problems and
solutions in implementing Blockchain in Kenya insurance business, this study used a systematic
literature review. In order to find pertinent material from Google Scholar, a number of keywords
were employed. The filtered studies were examined based on inclusion and exclusion standards.
Findings: This report outlined many obstacles to Blockchain adoption in the Kenya insurance sector
as well as potential remedies. The proposals could help policymakers improve the insurance industry
service delivery.

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Published

30-12-2024 — Updated on 30-12-2024

Versions

Issue

Vol. 1 No. 1 (2024): Volume 1, Issue 1 – December 2024

Section

Research Articles

License

Copyright (c) 2024 Noman Arshed, Marium Saeed (Author)

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