Blockchain-based secure privacy-preserving vehicle accident and insurance registration

Abstract

Insurance claims processing involves multiple entities and data sources, necessitating communication between human agents. Consequently, vehicle insurance claims have traditionally required significant human effort and time. Daily vehicle-related transactions, including those managed by transportation authorities, pose challenges for tracking. Centralised systems have been utilised for national solutions, but trust management, transparency, and access control issues arise. There is potential for further integration of vehicle-related transactions. This article proposes a blockchain framework for vehicle insurance to streamline the reporting of accidents and filing of insurance claims. Blockchain-based automation platforms can enhance the scale and response time of claims processing, providing users with control over additional transactions, inspection, and insurance. For experimental purposes, a blockchain was created using Hyperledger Fabric to store information about vehicles, owners, and insurance. Efficient querying of this blockchain requires specific participants, assets, and transactions. The consensus algorithm can identify invalid claims if a transaction request contains an error. By deploying blockchain technology and smart contracts, this architecture has the potential to address trust and security concerns associated with traditional insurance policies and claims.