A decentralized insurance solution that combines Business Process Modeling (BPMN 2.0) and smart contracts to automatically compensate passengers for train delays, removing intermediaries and enabling trustless collaboration between insurers, travelers, and railway operators.
Insurtrain reimagines travel insurance by leveraging blockchain technology to create a transparent, automated claims system. When trains are delayed beyond 10 minutes, passengers receive instant compensation—no paperwork, no waiting. The system uses BPMN 2.0 choreography to orchestrate interactions between mutually untrusting parties, while oracle networks fetch real-time train data from railway APIs to trigger payouts automatically12.
- Automated Claims Processing: Compensation triggered within minutes of delay verification
- BPMN-Based Smart Contracts: Visual workflow modeling using BPMN
- Blockchain Transparency: Immutable transaction records on private blockchain
- Parametric Insurance Model:
- Premium calculation based on travel distance (5-7% of ticket price)
- Compensation tiers (50-100% of ticket value)
- Oracle Integration: Real-time train status verification through API connections
Collaborative process between client, insurer, and railway data providers
Policy application and compensation workflow for end-users
Automated underwriting and claims processing system
Core Components:
- BPMN 2.0 for process modeling
- Camunda Platform for workflow automation
- Solidity smart contract templates
- Chainlink Oracles for train data verification
- Bitcoin Testnet for payment simulations
Rocco Goldschmidt, API Product Manager 📧 | 💼
This project was developed as a Master's thesis exploring the intersection of blockchain technology, process automation, and parametric insurance. The implementation uses a private blockchain testnet and simulated data sources to demonstrate proof-of-concept viability before production deployment.