Blockchain-Enhanced Smart Contract for Cost-Effective Insurance Claims Processing

IF 4.5 3区管理学 Q1 INFORMATION SCIENCE & LIBRARY SCIENCE

Journal of Global Information Management Pub Date : 2023-09-06 DOI:10.4018/jgim.329927

Qiping Wang, Raymond Y. K. Lau, Yain-Whar Si, Haoran Xie, Xiaohui Tao

引用次数: 0

Abstract

Blockchain-enabled smart contracts have revolutionized the insurance industry due to their potential to streamline backend operations, mitigate fraudulent claims, and enhance data security and transparency. Guided by the design science methodology, the authors propose two specific smart contract frameworks to enhance insurance claims processing related to vehicle damage claims and personal injury claims. These proposed frameworks can improve the overall efficiency and effectiveness of insurance claims processing by automating claims submission, review, analysis, and payment, while reducing fraud and data leakage, by merging various data sources and disintermediation. Furthermore, the authors design a smart contract template supported by eight operational algorithms to facilitate the processing of insurance claims with the help of smart contracts. This template provides practitioners with a standardized prototype for the development of secure and efficient insurance applications.

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区块链增强智能合约，用于经济高效的保险索赔处理

区块链智能合约在简化后端运营、减少欺诈索赔以及提高数据安全性和透明度方面的潜力，使保险业发生了革命性的变化。在设计科学方法论的指导下，作者提出了两个具体的智能合同框架，以加强与车辆损坏索赔和人身伤害索赔相关的保险索赔处理。这些拟议的框架可以通过自动化索赔提交、审查、分析和支付来提高保险索赔处理的整体效率和有效性，同时通过合并各种数据源和去中介化来减少欺诈和数据泄露。此外，作者设计了一个由八种操作算法支持的智能合约模板，以便于在智能合约的帮助下处理保险索赔。该模板为从业者提供了一个标准化的原型，用于开发安全高效的保险应用程序。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Global Information Management INFORMATION SCIENCE & LIBRARY SCIENCE-

CiteScore

5.80

自引率

14.90%

发文量

118

期刊介绍： Authors are encouraged to submit manuscripts that are consistent to the following submission themes: (a) Cross-National Studies. These need not be cross-culture per se. These studies lead to understanding of IT as it leaves one nation and is built/bought/used in another. Generally, these studies bring to light transferability issues and they challenge if practices in one nation transfer. (b) Cross-Cultural Studies. These need not be cross-nation. Cultures could be across regions that share a similar culture. They can also be within nations. These studies lead to understanding of IT as it leaves one culture and is built/bought/used in another. Generally, these studies bring to light transferability issues and they challenge if practices in one culture transfer.