Publication
CIKM 2017
Conference paper

Blockchain-based data management and analytics for micro-insurance applications

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Abstract

In this paper, we demonstrate a blockchain-based solution for transparently managing and analyzing data in a pay-as-you-go car insurance application. This application allows drivers who rarely use cars to only pay insurance premium for particular trips they would like to travel. One of the key challenges from database perspective is how to ensure all the data pertaining to the actual trip and premium payment made by the users are transparently recorded so that every party in the insurance contract including the driver, the insurance company, and the financial institution is confident that the data are tamper-proof and traceable. Another challenge from information retrieval perspective is how to perform entity matching and pattern matching on customer data as well as their trip and claim history recorded on the blockchain for intelligent fraud detection. Last but not least, the drivers' trip history, once have been collected sufficiently, can be much valuable for the insurance company to do offline analysis and build statistics on past driving behaviour and past vehicle runtime. These statistics enable the insurance company to offer the users with transparent and individualized insurance quotes. Towards this end, we develop a blockchain-based solution for micro-insurance applications that transparently keeps records and executes smart contracts depending on runtime conditions while also connecting with off-chain analytic databases.

Date

06 Nov 2017

Publication

CIKM 2017

Authors

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