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Regular version of the site

Book chapter

Blockchain As A Tool For Effective Value Co-Creation Strategy Realization: An Application to An Insurance Case

P. 1-8.
Babkin E., Malyzhenkov P. V., Pakhomova K.

Value co-creation is a new notion in contemporary business practice, which is now also becoming one of the key marketing concepts. The success of the value co-creation strategy is based on the DART (dialogue, access, risk-benefits and transparency) concept which is emerging as the basis for interaction between the consumer and the firm. Distributed ledger technologies like blockchain leverage DART realization allow the business to avoid intermediaries and make innovative business models economically feasible. The insurance sector represents a very good example here. Thus, the purpose of the present paper is to describe a case realizing the reengineering the business model of an insurance company towards actual implementation of the value co-creation strategy in a case of blockchain usage.