Formal Verification for Blockchain-based Insurance Claims Processing

arXiv:2402.13169v1 Announce Type: new
Abstract: Insurance claims processing involves multi-domain entities and multi-source data, along with a number of human-agent interactions. Use of Blockchain technology-based platform can significantly improve scalability and response time for processing of claims which are otherwise manually-intensive and time-consuming. However, the chaincodes involved within the processes that issue claims, approve or deny them as required, need to be formally verified to ensure secure and reliable processing of transactions in Blockchain. In this paper, we use a …

agent and response arxiv blockchain can claims consuming cs.cr data domain entities human insurance issue platform processes response response time scalability source data technology verification