Blockchain Model Adoption to Improve Transaction Transparency in Claim and Refund The General Insurance Industry
Inayatulloh Inayatulloh, Ahmad Fathurrozi, Aida Fitriyani, Rakhmi Khalida, Dwi Budi Srisulistiowati, Dian Hartanti, Dwi Swasono Rachmad · 2024
The insurance industry is a collection of service companies that offer protection services to clients in accordance with contracts and agreements. Insurance claim procedures that utilize conventional computer networks are susceptible to data theft by hackers and carry a high risk of resulting in losses for all parties involved. Blockchain, on the other hand, is a technology that provides an immutable ledger through which insurance companies can transfer insurance claims, thereby helping to eliminate common sources of data theft and destruction in the insurance industry. This research aims to aid the insurance industry in enhancing system security using block chain technology. Using a qualitative approach, problems are identified based on observations of the mechanisms and business processes of insurance companies, particularly those pertaining to the claims process. Literature studies are used to discover alternative information technology-based solutions. This research has produced a block chain model to enhance the insurance system's security. The research results are a proposed model and simulation with a blockchain framework.