Smart Insurance Contracts - Proof of Concept (POC)

Overview

This repository contains the code and documentation for a Proof of Concept (POC) project on Smart Insurance Contracts. The objective of this POC is to explore the potential of blockchain technology and smart contracts in the insurance industry. The project aims to develop a transparent and efficient system for purchasing and managing insurance policies, leveraging the benefits of blockchain and decentralized applications (DApps).

Table of Contents

• Overview
• Features
• Technologies Used
• Installation
• Usage
• File Structure
• Contributing
• License

Features

1. Smart Contracts: The core of the project consists of Ethereum smart contracts written in Solidity. These smart contracts handle the insurance purchase, claim submission, approval, and premium calculations.

2. Non-Fungible Tokens (NFTs): NFTs are utilized to create unique digital assets that represent ownership of insurance policies. Each policyholder receives an NFT as proof of their valid insurance.

3. Premium Calculation: The project includes a component to calculate insurance premiums based on the policyholder's driving style. Simulated driving data is used to demonstrate the premium calculation process.

Technologies Used

• Ethereum: Blockchain platform for smart contract execution.
• Solidity: Programming language for smart contracts.
• Remix IDE: Web-based development environment for writing, testing, and deploying smart contracts.
• HTML and JavaScript: Used for the frontend interface and simulated data.

Installation

To run the project locally, follow these steps:

1. Clone the repository to your local machine.
2. Ensure you have the necessary dependencies installed, including an Ethereum client and Remix IDE.
3. Deploy the smart contracts using Remix IDE or a development blockchain network.
4. Open the index.html file in your browser to access the frontend interface.

Usage

1. Access the frontend interface to interact with the smart contracts.
2. Perform KYC verification and purchase an insurance policy.
3. Simulate driving data to calculate insurance premiums based on different scenarios.
4. Submit and approve insurance claims using the smart contracts.
5. Explore the NFTs representing valid insurance policies.

File Structure

The repository is organized as follows:

├── contracts/
│   ├── main.sol       # Main smart contract handling core functionalities
│   ├── nft.sol        # NFT smart contract for policy ownership representation
│   └── premium.sol    # Smart contract for premium calculations
├── frontend/
│   ├── index.html     # Frontend interface for interacting with smart contracts
│   └── script.js      # JavaScript file for frontend logic
├── LICENSE            # License file
└── README.md          # This README file

Contributing

Contributions to this project are welcome. If you find any issues or have suggestions for improvements, please feel free to open an issue or submit a pull request.

License

This project is licensed under the MIT License. Feel free to use, modify, and distribute the code as per the terms of the license.

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Thank you for checking out my Smart Insurance Contracts POC project. If you have any questions or need assistance, please don't hesitate to contact us or open an issue. Happy coding!