Proceedings of the 4th International Conference on Informatics, Technology and Engineering 2023 (InCITE 2023)

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Designing Smart Contracts on Insurance Claims to Support the Supply Chain Performance

Authors
Josephine Permata Sari1, Joniarto Parung1, *
1Industrial Engineering Department, University of Surabaya, Surabaya, 60293, Indonesia
*Corresponding author. Email: jparung@staff.ubaya.ac.id
Corresponding Author
Joniarto Parung
Available Online 19 November 2023.
DOI
10.2991/978-94-6463-288-0_3How to use a DOI?
Keywords
Smart Contract; Insurance Claim System; Supply Chain Performance
Abstract

Blockchain as a distributed ledger technology that can guarantee transparency and speed in real time is increasingly being used to increase supply chain performance directly or indirectly. Blockchain in the form of smart contracts in the insurance business will speed up insurance claims and increase transparancy, which will indirectly improve supply chain performance. This article aims to identify the role of smart contracts in increasing efficiency and applying smart contract designs to disbursing life insurance claims. The method for designing and implementing smart contracts was developed on the Ethereum platform involving several parties such as insurers, customers, and CAIPY Dapp. CAIPY is the name of the system being developed. CAIPY ensures that the system can prevent data manipulation, data leakage and guarantees the security of the smart contract itself. This research includes planning what data is needed in the smart contract design. Based on these data requirements, a system architecture, system mechanism is prepared, and closed with the design of a smart contract. This research produces a life insurance claim system in the form of a website by utilizing smart contracts. Analysis of the impact of implementing this system found an accelerated claim process, transparency of reasons for rejection in real time, and claims that are guaranteed as long as the conditions meet the policy requirements.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 4th International Conference on Informatics, Technology and Engineering 2023 (InCITE 2023)
Series
Atlantis Highlights in Engineering
Publication Date
19 November 2023
ISBN
10.2991/978-94-6463-288-0_3
ISSN
2589-4943
DOI
10.2991/978-94-6463-288-0_3How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Josephine Permata Sari
AU  - Joniarto Parung
PY  - 2023
DA  - 2023/11/19
TI  - Designing Smart Contracts on Insurance Claims to Support the Supply Chain Performance
BT  - Proceedings of the 4th International Conference on Informatics, Technology and Engineering 2023 (InCITE 2023)
PB  - Atlantis Press
SP  - 15
EP  - 24
SN  - 2589-4943
UR  - https://doi.org/10.2991/978-94-6463-288-0_3
DO  - 10.2991/978-94-6463-288-0_3
ID  - Sari2023
ER  -