Blockchain-based systems and methods for self-managed peer group insurance

Abstract

A blockchain-based social insurance (“BBSI”) computer system for creating a social insurance group is provided. The BBSI computer system includes at least one processor in communication with at least one memory device. The processor is programmed to receive social insurance group data and define at least one qualifying rule for joining the social insurance group. Each member of the social insurance group must satisfy the at least one qualifying rule to become a member of the social insurance group. The processor is programmed to generate at least one social insurance group blockchain including the qualifying rule and cause to be displayed on a user device the social insurance group data for review by a candidate member. The processor is also programmed to receive a registration message from the candidate member including a request to become a member of the group.

We claim: 
     
         1 . A computer system comprising at least one processor in communication with at least one memory device and a blockchain ledger, the at least one processor is configured to:
 receive social insurance group data for a social insurance group;   receive at least one qualifying rule for joining the social insurance group based upon the social insurance group data, wherein the at least one qualifying rule includes at least one requirement for joining the social insurance group designated by at least one member of the social insurance group;   generate and store at least one social insurance group blockchain in the blockchain ledger including a block storing the at least one qualifying rule and data representing at least one smart contract, wherein the at least one smart contract includes executable instructions representing the at least one qualifying rule;   in response to receiving candidate data for a candidate user requesting admittance into the social insurance group, cause the at least one smart contract to be executed using the candidate data, wherein the execution of the at least one smart contract outputs a determination of whether the candidate data satisfies the at least one qualifying rule; and   output a message indicating that the candidate user has been accepted into the social insurance group as a member based upon the output from the at least one smart contract.   
     
     
         2 . The BBSI computer system of  claim 1 , wherein the at least one processor is further configured to:
 cause to be displayed on a user device the social insurance group data including the at least one qualifying rule for review by a candidate member; and   receive, from the user device, a registration message from the candidate member, the registration message including a request for the candidate member to become a new member of the social insurance group.   
     
     
         3 . The BBSI computer system of  claim 1 , wherein the at least one processor is further configured to transmit the message to a computing device associated with one of an insurance provider, one of the at least one member, and a distributed blockchain ledger. 
     
     
         4 . The BBSI computer system of  claim 1 , wherein the at least one member is at least one founding member of the social insurance group. 
     
     
         5 . The BBSI computer system of  claim 1 , wherein the at least one smart contract is customizable by one or more members of the social insurance group. 
     
     
         6 . The BBSI computer system of  claim 1 , wherein each member of the social insurance group must satisfy the at least one qualifying rule to become a member of the social insurance group. 
     
     
         7 . The BBSI computer system of  claim 1 , wherein the at least one processor is further configured to:
 receive a member insurance claim;   transmit the member insurance claim to the at least one member of the social insurance group;   receive an insurance claim decision; and   execute the insurance claim decision.   
     
     
         8 . A computer-implemented method implemented using a blockchain-based social insurance (“BBSI”) computing device including at least one processor in communication with at least one memory device and a blockchain ledger, the method comprising:
 receiving social insurance group data for a social insurance group; 
 receiving at least one qualifying rule for joining the social insurance group based upon the social insurance group data, wherein the at least one qualifying rule includes at least one requirement for joining the social insurance group designated by at least one member of the social insurance group; 
 generating and storing at least one social insurance group blockchain in the blockchain ledger including a block storing the at least one qualifying rule and data representing at least one smart contract, wherein the at least one smart contract includes executable instructions representing the at least one qualifying rule; 
 in response to receiving candidate data for a candidate user requesting admittance into the social insurance group, causing the at least one smart contract to be executed using the candidate data, wherein the execution of the at least one smart contract outputs a determination of whether the candidate data satisfies the at least one qualifying rule; and 
 outputting a message indicating that the candidate user has been accepted into the social insurance group as a member based upon the output from the at least one smart contract. 
 
     
     
         9 . The computer-implemented method of  claim 8  further comprising:
 causing to be displayed on a user device the social insurance group data including the at least one qualifying rule for review by a candidate member; and 
 receiving, from the user device, a registration message from the candidate member, the registration message including a request for the candidate member to become a new member of the social insurance group. 
 
     
     
         10 . The computer-implemented method of  claim 8  further comprising transmitting the message to a computing device associated with one of an insurance provider, one of the at least one member, and a distributed blockchain ledger. 
     
     
         11 . The computer-implemented method of  claim 8 , wherein the at least one member is at least one founding member of the social insurance group. 
     
     
         12 . The computer-implemented method of  claim 8 , wherein the at least one smart contract is customizable by one or more members of the social insurance group. 
     
     
         13 . The computer-implemented method of  claim 8 , wherein each member of the social insurance group must satisfy the at least one qualifying rule to become a member of the social insurance group. 
     
     
         14 . The computer-implemented method of  claim 8  further comprising:
 receiving a member insurance claim; 
 transmitting the member insurance claim to the at least one member of the social insurance group; 
 receiving an insurance claim decision; and 
 executing the insurance claim decision. 
 
     
     
         15 . A least one non-transitory computer-readable medium having computer-executable instructions thereon, wherein when executed by at least one processor of a blockchain-based social insurance (BBSI) computing device in communication with at least one memory device and a blockchain ledger, cause the at least one processor of the BBSI computing device to:
 receive social insurance group data for a social insurance group;   receive at least one qualifying rule for joining the social insurance group based upon the social insurance group data, wherein the at least one qualifying rule includes at least one requirement for joining the social insurance group designated by at least one member of the social insurance group;   generate and store at least one social insurance group blockchain in the blockchain ledger including a block storing the at least one qualifying rule and data representing at least one smart contract, wherein the at least one smart contract includes executable instructions representing the at least one qualifying rule;   in response to receiving candidate data for a candidate user requesting admittance into the social insurance group, cause the at least one smart contract to be executed using the candidate data, wherein the execution of the at least one smart contract outputs a determination of whether the candidate data satisfies the at least one qualifying rule; and   output a message indicating that the candidate user has been accepted into the social insurance group as a member based upon the output from the at least one smart contract.   
     
     
         16 . The computer-readable medium of  claim 15 , wherein the computer-executable instructions further cause the at least one processor to:
 cause to be displayed on a user device the social insurance group data including the at least one qualifying rule for review by a candidate member; and   receive, from the user device, a registration message from the candidate member, the registration message including a request for the candidate member to become a new member of the social insurance group.   
     
     
         17 . The computer-readable medium of  claim 15 , wherein the computer-executable instructions further cause the at least one processor to transmit the message to a computing device associated with one of an insurance provider, one of the at least one member, and a distributed blockchain ledger. 
     
     
         18 . The computer-readable medium of  claim 15 , wherein the at least one member is at least one founding member of the social insurance group. 
     
     
         19 . The computer-readable medium of  claim 15 , wherein the at least one smart contract is customizable by one or more members of the social insurance group. 
     
     
         20 . The computer-readable medium of  claim 15 , wherein each member of the social insurance group must satisfy the at least one qualifying rule to become a member of the social insurance group.