A New Cooperative Insurance Based On Blockchain Technology: Six Simulations To Evaluate The Model.

摘要

The paper suggests a model of smart insurance using blockchain technology, which means; adding more transparency, security and rapidity to the services provided by insurance companies. Our model also combines Fintech to Takaful, which is an ethic insurance made of cooperation and solidarity. The idea of this paper is to simulate what we called “smart insurance”, in the software of multi-agent based simulation Netlogo. For this purpose, we are modeling a complex environment made by conventional companies and smart companies, having each specific characteristics, but also policyholders, as dynamic agents able to choose from the alternatives available in the market, according to a weighted decision making matrix. The weights depend on the agent’s type and coefficients are changing over time. We also take into consideration the fact that policyholders are partially influenced by each other and that a loyalty factor comes into play. More than that, we assume that companies evolve in a context of competition. Actually, it is an improved model, more realistic than a previous work in which we explained in details the suggested insurance model, but simulate only a basic scenario; some aspects were neglected for reasons of simplicity. In this paper, we simulate six different scenarios to evaluate the effect of many factors such as imitation, loyalty and competition, and get more reliable results.