A driving behavior model evaluation for UBI

Liu, Zhishuo; Shen, Qianhui; Ma, Jingmiao

doi:10.1108/ijcs-08-2017-0022

Cited by 6 publications

(1 citation statement)

References 21 publications

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“…UBI systems can determine driving risk more accurately than can conventional car insurance systems, which base risk on gender, age, and accident frequency [ 26 ]. One advantages of UBI is its high pricing flexibility [ 27 ]. For example, drivers who rarely use the accelerator and brake, have safe driving habits, obey traffic rules, and rarely drive during peak hours could have greater flexibility and discounts on insurance costs in a UBI scheme than for conventional auto insurance.…”

Section: Literature Reviewmentioning

confidence: 99%

A Trustable and Secure Usage-Based Insurance Policy Auction Mechanism and Platform Using Blockchain and Smart Contract Technologies

Lin

Tai

Lin

2023

Sensors

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This study presents an architectural framework for the blockchain-based usage-based insurance (UBI) policy auction mechanism in the internet of vehicles (IoV) applications. The main objective of this study is to analyze and design the specific blockchain architecture and management considerations for the UBI environment. An auction mechanism is developed for the UBI blockchain platform to enhance consumer trust. The study identifies correlations between driving behaviors and associated risks to determine a driver’s score. A decentralized bidding algorithm is proposed and implemented on a blockchain platform using elliptic curve cryptography and first-price sealed-bid auctions. Additionally, the model incorporates intelligent contract functionality to prevent unauthorized modifications and ensure that insurance prices align with the prevailing market value. An experimental study evaluates the system’s efficacy by expanding the participant pool in the bidding process to identify the winning bidder and is investigated under scenarios where varying numbers of insurance companies submit bids. The experimental results demonstrate that as the number of insurance companies increases exponentially, the temporal overhead incurred by the system exhibits only marginal growth. Moreover, the allocation of bids is accomplished within a significantly abbreviated timeframe. These findings provide evidence that supports the efficiency of the proposed algorithm.

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Section: Literature Reviewmentioning

confidence: 99%