Document Type : Research Paper


1 Assistant Professor/Insurance Research Center

2 Master of Financial Mathematics, Faculty of Mathematics & Computer Science, Allameh Tabataba’i University, Tehran, Iran.



Natural disaster insurance plays a key role in implementing risk reduction strategies and enables insurers to transfer risk to avoid significant financial costs during the recovery phase. The rapid expansion of digital infrastructure and devices has created enormous potential for the use of evolving technologies in natural disaster risk management. However, the use of new technologies, in addition to the benefits, poses challenges for insurers and needs requirements and infrastructure, too. In this regard, the main purpose of this study is to identify the requirements, infrastructure and challenges of using blockchain technology in natural disaster insurance. Therefore, first, blockchain technology and its features are introduced. Then the application of blockchain technology in natural disaster insurance such as earthquake, hurricane, flood, volcanic eruption and agricultural insurance and its benefits such as immediate compensation, reduced risk of fraud, cost effectiveness of insurance policies, etc. have been studied. Finally, in order to better identify the challenges and requirements of using blockchain technology in natural disaster insurance, a questionnaire was distributed among 50 insurance industry activists. The results showed that decision makers at different levels of the insurance industry should address these challenges and requirements, and help the insurance industry to adapt to emerging digital technologies by creating the necessary infrastructure, providing appropriate regulatory and legal frameworks, using specialized and efficient staff.


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