ChainCare: A Blockchain-Based Decentralized Platform for Transparent Insurance

Abstract

The global insurance sector continues to be hampered by legacy systems characterized by operational inefficiencies, asymmetric information, and excessive administrative overhead. This paper presents ChainCare, a decentralized insurance platform designed to overcome these limitations by leveraging blockchain technology. Built on the Ethereum public blockchain, ChainCare employs smart contracts written in Solidity to automate insurance policy creation, claims processing, and settlements while ensuring transparency and auditability. The system integrates a React.js-based user interface with blockchain-backed transactions to deliver a secure and user-centric experience. By recording all operations on a distributed ledger, the platform minimizes fraudulent activities, reduces manual intervention, and accelerates claim resolution. Experimental validation of the prototype demonstrates that ChainCare significantly reduces administrative complexity and enhances trust through immutable, verifiable transactions. The proposed architecture establishes a practical framework for decentralized insurance, offering a scalable and transparent alternative to traditional systems.