Secured Insurance Framework Using Blockchain with Voting Mechanism

Secured Insurance Framework Using Blockchain with Voting Mechanism | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Research Article Secured Insurance Framework Using Blockchain with Voting Mechanism Thoudam Johnson Singh, Ngangbam Herojit Singh, Nihar Das, Priyankush Das, and 1 more This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-4130495/v1 This work is licensed under a CC BY 4.0 License Status: Posted Version 1 posted You are reading this latest preprint version Abstract With the Insurance Industry projected to be a 222-billion-dollar industry in India by 2026, it calls for the introduction of newer technology to keep up with this ever-growing industry. Blockchain in near history is one of the fastest evolving technologies which is based on the sole principle of utilizing consensus, decentralization, and encryption to produce an extremely safe underlying software system that is almost hard to hack. Using Blockchain we can ensure safer and more transparent transactions and the eradication of monopolies held by Insurance Institutes with the implementation of a voting mechanism. The main objective of this paper is to develop an applicationthat will streamline the buying and claiming in the insurance process and distribute the power between different actors involved in the system and not make the Insurance company omnipotent. This paper presents a practical implementation of the proposed system on the Polygon PoS blockchain, with testing conducted on the Polygon Mumbai server, demonstrating the real-world applicability and effectiveness of our approach. Insurance company Blockchain Smart contracts Proof of authority Decentralized voting mechanism Polygon Mumbai Server Full Text Cite Share Download PDF Status: Posted Version 1 posted You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. We do this by developing innovative software and high quality services for the global research community. Our growing team is made up of researchers and industry professionals working together to solve the most critical problems facing scientific publishing. Also discoverable on Platform About Our Team In Review Editorial Policies Advisory Board Help Center Resources Author Services Accessibility API Access RSS feed Manage Cookie Preferences © Research Square 2026 | ISSN 2693-5015 (online) Privacy Policy Terms of Service Do Not Sell My Personal Information {"props":{"pageProps":{"initialData":{"identity":"rs-4130495","acceptedTermsAndConditions":true,"allowDirectSubmit":true,"archivedVersions":[],"articleType":"Research Article","associatedPublications":[],"authors":[{"id":499821008,"identity":"39bdd60e-71e8-4b2f-818b-90cac862324f","order_by":0,"name":"Thoudam Johnson Singh","email":"","orcid":"","institution":"Assam Don Bosco University","correspondingAuthor":false,"prefix":"","firstName":"Thoudam","middleName":"Johnson","lastName":"Singh","suffix":""},{"id":499821009,"identity":"8e301125-3559-478b-adf9-fc419630fe0e","order_by":1,"name":"Ngangbam Herojit Singh","email":"","orcid":"","institution":"NIT Agartala: National Institute of Technology Agartala","correspondingAuthor":false,"prefix":"","firstName":"Ngangbam","middleName":"Herojit","lastName":"Singh","suffix":""},{"id":499821010,"identity":"f6852354-3560-43ae-98f2-fb6a742168b2","order_by":2,"name":"Nihar Das","email":"","orcid":"","institution":"Assam Don Bosco University","correspondingAuthor":false,"prefix":"","firstName":"Nihar","middleName":"","lastName":"Das","suffix":""},{"id":499821011,"identity":"533807c1-888e-495b-8cc5-060812c699c7","order_by":3,"name":"Priyankush Das","email":"","orcid":"","institution":"Assam Don Bosco University","correspondingAuthor":false,"prefix":"","firstName":"Priyankush","middleName":"","lastName":"Das","suffix":""},{"id":499821012,"identity":"967dd272-18f3-4e28-b008-8ad54e6f47e3","order_by":4,"name":"Bhargav Kumar Nath","email":"data:image/png;base64,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","orcid":"https://orcid.org/0009-0004-1897-5938","institution":"Assam Don Bosco University","correspondingAuthor":true,"prefix":"","firstName":"Bhargav","middleName":"Kumar","lastName":"Nath","suffix":""}],"badges":[],"createdAt":"2024-03-19 13:00:04","currentVersionCode":1,"declarations":"","doi":"10.21203/rs.3.rs-4130495/v1","doiUrl":"https://doi.org/10.21203/rs.3.rs-4130495/v1","draftVersion":[],"editorialEvents":[],"editorialNote":"","failedWorkflow":false,"files":[{"id":89643087,"identity":"5b29b197-4f43-42d5-9512-e5f7e59eab27","added_by":"auto","created_at":"2025-08-22 08:23:55","extension":"pdf","order_by":1,"title":"","display":"","copyAsset":false,"role":"manuscript-pdf","size":397958,"visible":true,"origin":"","legend":"","description":"","filename":"SecuredInsuranceusingBlockchain.pdf","url":"https://assets-eu.researchsquare.com/files/rs-4130495/v1_covered_130f8599-7ef4-44af-a58e-048bc49b66d5.pdf"}],"financialInterests":"","formattedTitle":"Secured Insurance Framework Using Blockchain with Voting Mechanism","fulltext":[],"fulltextSource":"","fullText":"","funders":[],"hasAdminPriorityOnWorkflow":false,"hasManuscriptDocX":false,"hasOptedInToPreprint":true,"hasPassedJournalQc":"","hasAnyPriority":false,"hideJournal":true,"highlight":"","institution":"","isAcceptedByJournal":false,"isAuthorSuppliedPdf":true,"isDeskRejected":"","isHiddenFromSearch":false,"isInQc":false,"isInWorkflow":false,"isPdf":true,"isPdfUpToDate":true,"isWithdrawnOrRetracted":false,"journal":{"display":true,"email":"[email protected]","identity":"researchsquare","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":true,"externalIdentity":"","sideBox":"","snPcode":"","submissionUrl":"/submission","title":"Research Square","twitterHandle":"researchsquare","acdcEnabled":true,"dfaEnabled":false,"editorialSystem":"","reportingPortfolio":"","inReviewEnabled":false,"inReviewRevisionsEnabled":true},"keywords":"Insurance company, Blockchain, Smart contracts, Proof of authority, Decentralized voting mechanism, Polygon Mumbai Server","lastPublishedDoi":"10.21203/rs.3.rs-4130495/v1","lastPublishedDoiUrl":"https://doi.org/10.21203/rs.3.rs-4130495/v1","license":{"name":"CC BY 4.0","url":"https://creativecommons.org/licenses/by/4.0/"},"manuscriptAbstract":"With the Insurance Industry projected to be a 222-billion-dollar industry in India by 2026, it calls for the introduction of newer technology to keep up with this ever-growing industry. 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