The 'moment of truth' for insurers stands to gain a lot from the IoT, according to the survey. "lockchain has the potential to transform the claims process: drawing on data from IoT to validate a claim evidence rain damage to a crop, for example could then autotrigger the filing of a claim, which is then promptly settled via a smart contract on the blockchain," the survey says. Twelve percent of respondents xpect the settlement of insurance claims using IoT data, blockchain and smart contracts to be mainstream practice within two years. That number rises to 85% within a decade.