学术文献库

Insurance is one of the fundamental services offered to the citizens to reduce their costs and assist them in case of an emergency. One of the most important challenges in the insurance industry is to address liability challenge and the forging of documents by the involved parties, i.e., insurance company or the users, in order to increase financial gain. Conventional methods to address this challenge is significantly time consuming and costly and also suffers from lock of transparency. In this paper, we propose a blockchain-based solution for the insurance industry in smart cities (BIS). BIS creates a big umbrella that consists of the smart city managers, insurance companies, users, and sensors and devices. The users are known by changeable Public Keys (PKs) that introduces a level of anonymity. The data collected by the sensors is stored in cloud or local storage and is shared with insurance company on demand to find the liable party that in turn increases the privacy of the users. BIS enables the users to prove and share the history of their insurances with other users or insurances. Using Proof of Concept (POC) implementation we demonstrated the applicability of blockchain in insurance industry. The implementation results prove that BIS significantly reduces delay involved in insurance industry as compared with conventional insurance methods.