Blockchain Data Processing for Insurance Commission Settlement
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Solution Overview
Problem
Current insurance commission settlement processes between insurance companies and third-party service agencies are inefficient, requiring high development costs and lacking a reliable arbitration mechanism, with a lack of real-time data processing and immutability in transaction data verification.
Innovation Solution
A blockchain-based data processing system utilizing transaction-side and server-side blockchain nodes, which create and consolidate transaction data structures based on the UTXO model, execute smart contracts to determine settled amounts, and update bookkeeping operations, ensuring real-time calculation and immutability of transaction data through a distributed ledger.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If transaction data is transferred out of core transaction system via file transmission for verification, then data verification can be performed, but the process takes a long time and has poor time efficiency
Solution Approach 1:
The patent introduces a blockchain as an intermediary distributed ledger that both the insurance company and third-party service agency jointly maintain. Transaction data is recorded on the blockchain in real-time, eliminating the need for file transmission between systems. The blockchain acts as a trusted mediator that both parties can verify independently, achieving reliable data verification while maintaining real-time processing efficiency.
2Measurement precision
If manual verification and agreement on transaction data is performed before commission settlement, then data accuracy can be ensured, but the settlement process becomes complex and time-consuming
Solution Approach 1:
The patent employs smart contracts with automated verification rules that automatically validate transaction data against predefined criteria. This automated verification mechanism ensures data accuracy without requiring manual review processes. The system accelerates the verification process by using programmed logic to instantly check transaction validity, eliminating complex manual approval workflows while maintaining precise data verification.
3Ease of manufacture
If transaction data is packaged and transmitted periodically, then data processing can be simplified, but real-time data processing and arbitration capability are lost
Solution Approach 1:
The patent implements continuous real-time data processing by recording each transaction immediately on the blockchain as it occurs. The system maintains continuous synchronization between the insurance company's core system and the third-party service agency's system through the shared blockchain ledger. This eliminates periodic batch processing while maintaining system simplicity, as the blockchain automatically handles data consistency and verification continuously without requiring complex packaging and transmission protocols.
4Device complexity
If no distributed ledger is used for joint maintenance of transaction data, then system implementation is simpler, but arbitration mechanism and data immutability cannot be ensured
Solution Approach 1:
The patent segments the verification and arbitration functions into the blockchain layer, which handles immutability and dispute resolution, while the core transaction systems remain unchanged. The blockchain is divided into blocks that contain transaction data, with each block cryptographically linked to the previous one. This segmentation allows the arbitration mechanism to be implemented independently without redesigning the entire system architecture, maintaining relative simplicity while ensuring reliability through the distributed ledger's inherent properties.
Data Source
AI summary
A blockchain-based data processing system may comprise: a transaction-side blockchain node and a server-side blockchain node on a blockchain network maintaining a blockchain. The transaction-side blockchain node may be configured to: create a transaction data structure based on an Unspent Transaction Output (UTXO) model, consolidate transaction data of a transaction according to the transaction data structure to generate shared transaction data, execute a smart contract of the transaction-side blockchain node to automatically determine a to-be-settled commission amount, update the shared transaction data according to the to-be-settled commission amount, collect the updated shared transaction data according to a preset condition, and send a to-be-settled transaction processing request comprising the updated shared transaction data to the server-side blockchain node. The server-side blockchain node may be configured to: receive the to-be-settled transaction processing request, and calculate a sum of the to-be-settled commission amount in the updated shared transaction data.