InsureConnect: Blockchain and Digital Identity for the Property Insurance Market

2026-05-04

AI Summary

This study addresses the challenges of low transparency, weak identity authentication, and audit difficulties in post-natural-disaster property insurance processes by proposing a blockchain-based solution. The system uniquely integrates Self-Sovereign Identity (SSI), Decentralized Identifiers (DIDs), and Verifiable Credentials (VCs), leveraging Hyperledger Fabric and IPFS while incorporating satellite imagery data to enable secure registration of insurance contracts and damage claims, seamless on-chain/off-chain coordination, and fine-grained access control. Experimental results demonstrate that the prototype system achieves steadily increasing throughput under concurrent request loads ranging from 50 to 3,000. Although latency slightly rises and a small number of connections are lost under high concurrency, the system overall exhibits strong scalability and practical applicability.

Abstract

This paper presents InsureConnect, a blockchain-based system for improving transparency, authentication, and auditability in property-insurance workflows after natural disasters. The system combines Self-Sovereign Identity (SSI), Decentralized Identifiers (DIDs), Verifiable Credentials (VCs), satellite imagery, Hyperledger Fabric, and IPFS to register identities, insurance contracts, and damage claims. Property images are stored off-chain in IPFS, while content hashes and signed records are maintained on a permissioned blockchain. Users interact with the system through a desktop application, while chaincode enforces role-based access control and validates digital signatures. The prototype was evaluated under concurrent request loads from 50 to 3000 requests, measuring latency, throughput, and dropped connections. The results indicate that the system sustains increasing throughput under load, although latency rises and dropped connections appear at higher concurrency levels.

Problem

• property insurance
• transparency
• authentication
• auditability
• natural disasters

Innovation

• Blockchain
• Self-Sovereign Identity
• Verifiable Credentials
• Hyperledger Fabric
• IPFS