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A Usage-Based Insurance Policy Bidding and Support Platform Using Internet of Vehicles Infrastructure and Blockchain Technology

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Advanced Information Networking and Applications (AINA 2021)

Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 226))

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.

Author information

Authors and Affiliations

  1. Department of Information Management, National Taiwan University, Taipei, Taiwan

    Frank Yeong-Sung Lin, Wen-Yao Lin & Kuang-Yen Tai

  2. Research Center for Information Technology Innovation, Academia Sinica, Taipei, Taiwan

    Chiu-Han Hsiao & Hao-Jyun Yang

Authors
  1. Frank Yeong-Sung Lin
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  2. Wen-Yao Lin
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  3. Kuang-Yen Tai
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  4. Chiu-Han Hsiao
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  5. Hao-Jyun Yang
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Editor information

Editors and Affiliations

  1. Department of Information and Communication Engineering, Fukuoka Institute of Technology, Fukuoka, Japan

    Leonard Barolli

  2. Department of Computer Science, Ryerson University, Toronto, ON, Canada

    Isaac Woungang

  3. Faculty of Business Administration, Rissho University, Tokyo, Japan

    Tomoya Enokido

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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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