ChainSure: Agent free insurance system using blockchain for healthcare 4.0

Abstract

The health insurance industry requires a secure data management architecture characterized by reliable information processing and fast response. Classical health insurance management system runs on a manually controlled centralized architecture which leverages a vulnerable single point failure and requires frequent human intervention. This makes the model prone to human errors and security attacks. The existing system also lacks the flexibility to choose appropriate health insurance policies for different consumers. To this end, we propose an Ethereum blockchain-based framework, ChainSure, to address this problem. With the power of TOPSIS and smart contracts, ChainSure provides an automated, tamperproof, transparent, scalable system that takes care of all the major functional blocks in a medical insurance environment. We have used the TOPSIS method in this proposed model to help the users to find an insurance policy that best suits their needs. ChainSure works in a decentralized environment and provides an interactive interface for the user. The proposed model is implemented on the Ethereum test network and its performance has been compared empirically with other state-of-art models. ChainSure is found to outperform others in terms of service integrity, latency and cost.