InsureConnect: Blockchain and Digital Identity for the Property Insurance Market

TL;DR

InsureConnect leverages blockchain, SSI, DIDs, and satellite imagery to enhance transparency, authentication, and auditability in property insurance workflows post-disasters.

Contribution

It introduces a blockchain-based system integrating SSI, DIDs, VCs, and satellite imagery for improved insurance process management after natural disasters.

Findings

System sustains increasing throughput under load.

Latency increases with higher concurrency.

Dropped connections occur at high request levels.

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.