Insurance is one of the industries which can benefit the most from the implementation of the decentralized, secure and transparent ledger. The removal of intermediaries may cause a major change in the whole industry's value chain. The change may, for example, consist of the development or acceleration of development of new products. New approaches to business operations such as policy underwriting, claims management, reinsurance, etc. may emerge from using smart contracts in combination with the Internet of Things. And that's definitely not all.
PwC France has published recently a quite lengthy report (44 pages) in which all aspects of Blockchain in insurance are described in detail. Have a look at it here: