The $1 trillion insurance tokenisation bet: can blockchain fix property data, or simply repackage old risks?

Hashgraph and the Institutes RiskStream Collaborative are developing an interoperable property-risk and resilience portal combining HashSphere (a private permissioned ledger) with the public Hedera network. According to data from S&P Global, US property and casualty insurers generated approximately $1.1 trillion in direct premiums reported during 2025 (up 4.2% from 2024). Within that wider market, homeowners’ insurance represented approximately $169 billion in premiums whilst commercial-property insurance accounted for about $103 billion. However, these figures do not mean that Hashgraph and RiskStream are immediately tokenising $1 trillion of physical property. They represent the size of the insurance market whose fragmented data infrastructure the initiative aims to modernise.

Source: X

Personal-lines premium growth also slowed materially in 2025, homeowners’ direct premiums written increased 9.1% (compared with 13.4% in 2024), whilst personal-auto liability growth fell from 12.7% to …