Abstract
This paper presents a usage-based insurance (UBI) platform that incorporates Internet of Vehicles (IoV) and blockchain technologies, discussing the potential stakeholders, business models, and interaction modes involved in this platform. Existing UBI products mostly use data on the driver’s mileage, driving period, or driving region for more accurate insurance calculations. Automobile UBI encourages customers to continue improving their ability to drive safety and provides a means to smoothly, transparently, and rationally calculate insurance pricing and payout. This paper proposes blockchain architecture to remedy management problems in a UBI environment. A bidding mechanism suitable for the blockchain-based UBI platform was designed to close the information gap between the insurance company and consumer, thus increasing consumer trust in the platform.
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Acknowledgement
This work was supported in part by Ministry of Science and Technology (MOST), Taiwan, under Grant Number MOST 109-2221-E-002-144.
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Lin, F.YS., Lin, WY., Tai, KY., Hsiao, CH., Yang, HJ. (2021). A Usage-Based Insurance Policy Bidding and Support Platform Using Internet of Vehicles Infrastructure and Blockchain Technology. In: Barolli, L., Woungang, I., Enokido, T. (eds) Advanced Information Networking and Applications. AINA 2021. Lecture Notes in Networks and Systems, vol 226. Springer, Cham. https://doi.org/10.1007/978-3-030-75075-6_19
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DOI: https://doi.org/10.1007/978-3-030-75075-6_19
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