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All Journal AI, Innovation, and Resilience for the Environment Journal
Fazri Arkiman
Universitas Raharja

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Blockchain Applications for Transparency in the Insurance Industry Chandra Lukita; Harry Agustian; Kamal Arif Al-Farouqi; Fazri Arkiman
AI, Innovation, and Resilience for the Environment (AIR) Vol. 1 No. 1 (2026): AI, Innovation, and Resilience for the Environment (AIR) Journal
Publisher : Sinar Mentari Sundara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.68012/air.v1i1.122

Abstract

Transparency has become a critical pillar for trust in the insurance industry, yet traditional systems remain plagued by opaque claim procedures, high fraud rates, and inefficiencies caused by centralized databases. This study aims to analyze how blockchain-based mechanisms can address key pain points in claims processing, fraud detection, and data integrity. Adopting a conceptual and qualitative research approach, the methodology synthesizes findings from academic publications, industry reports, and real-world implementations to evaluate blockchain's contribution across four dimensions: process transparency, operational efficiency, trust, and regulatory compliance. The results indicate that core blockchain attributes—such as smart contracts and immutable ledgers significantly accelerate claim settlements, reduce information asymmetry, and enable real time behavior tracking through technologies like the Internet of Vehicles (IoV). It is concluded that while challenges regarding privacy and regulatory fragmentation persist, blockchain offers a paradigm shift toward a more transparent, efficient, and trustworthy insurance ecosystem by realigning economic incentives between insurers and policyholders.
Co-Authors Chandra Lukita Harry Agustian Kamal Arif Al-Farouqi