[2305.08384] Privacy-preserving Blockchain-enabled Parametric Insurance via Remote Sensing and IoT Skip to main content Search Submit Donate Log in Search arXiv Press Enter to search · Advanced search Computer Science > Cryptography and Security arXiv:2305.08384 (cs) [Submitted on 15 May 2023 ( v1 ), last revised 14 Aug 2025 (this version, v3)] Title: Privacy-preserving Blockchain-enabled Parametric Insurance via Remote Sensing and IoT Authors: Mingyu Hao , Keyang Qian , Sid Chi-Kin Chau View a PDF of the paper titled Privacy-preserving Blockchain-enabled Parametric Insurance via Remote Sensing and IoT, by Mingyu Hao and 2 other authors View PDF HTML (experimental) Abstract: Traditional Insurance, a popular approach of financial risk management, has suffered from the issues of high operational costs, opaqueness, inefficiency and a lack of trust. Recently, blockchain-enabled "parametric insurance" through authorized data sources (e.g., remote sensing and IoT) aims to overcome these issues by automating the underwriting and claim processes of insurance policies on a blockchain. However, the openness of blockchain platforms raises a concern of user privacy, as the private user data in insurance claims on a blockchain may be exposed to outsiders. In this paper, we propose a privacy-preserving parametric insurance framework based on succinct zero-knowledge proofs (zk-SNARKs), whereby an insuree submits a zero-knowledge proof (without revealing any private data) for the validity of an insurance claim and the authenticity of its data sources to a blockchain for transparent verification. Moreover, we extend the recent zk-SNARKs to support robust privacy protection for multiple heterogeneous data sources and improve its efficiency to cut the incurred gas cost by 80%. As a proof-of-concept, we implemented a working prototype of bushfire parametric insurance on real-world blockchain platform Ethereum, and present extensive empirical evaluations. Comments: This is an extended version of the journal paper to appear in IEEE Trans. Services Computing Subjects: Cryptography and Security (cs.CR) ; Networking and Internet Architecture (cs.NI) Cite as: arXiv:2305.08384 [cs.CR] (or arXiv:2305.08384v3 [cs.CR] for this version) https://doi.org/10.48550/arXiv.2305.08384 Focus to learn more arXiv-issued DOI via DataCite Journal reference: IEEE Transactions on Services Computing ( Volume: 18, Issue: 5, Sept.-Oct. 2025) Page(s): 3093 - 3105 Related DOI : https://doi.org/10.1109/TSC.2025.3570857 Focus to learn more DOI(s) linking to related resources Submission history From: Sid Chi-Kin Chau [ view email ] [v1] Mon, 15 May 2023 06:45:26 UTC (2,159 KB) [v2] Thu, 20 Mar 2025 01:52:35 UTC (2,150 KB) [v3] Thu, 14 Aug 2025 04:41:28 UTC (2,148 KB) Full-text links: Access Paper: View a PDF of the paper titled Privacy-preserving Blockchain-enabled Parametric Insurance via Remote Sensing and IoT, by Mingyu Hao and 2 other authors View PDF HTML (experimental) TeX Source view license Current browse context: cs.CR < prev | next > new | recent | 2023-05 Change to browse by: cs cs.NI References & Citations NASA ADS Google Scholar Semantic Scholar export BibTeX citation Loading... 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