Broker-Insurer-Broker

Question

Please help me to create a POC.

Broker creates a policy. Insurer backs the policy.

Broker: Step 1: Broker creates a policy.
Insurer: Step 1: Insurer creates an offer for  25%. for some premium amt.

Broker: Step 2: Views the offer and accepts it.
Insurer: Step 2: Insurer  creates another offer 75% for some premium to close out the policy.

Broker: Step 3: Views the offer and accepts it.

All the above steps should reflect in the Block.

Solution :???

will the following steps help me to acheive goal. please advise.

for 25% steps are as follows:
Insurer Step1: Issue, Preparelockunspent, Createrawtransaction, Appendrawdata , signrawtransaction, Sendrawtransaction .

Broker Step2: Decoderawtransaction, issue,Preparelockunspent, Createrawtransaction, Appendrawdata  , signrawtransaction,Sendrawtransaction

for 75%:

InsurerStep2: Decoderawtransaction ,Preparelockunspent, Createrawtransaction, Appendrawdata  , signrawtransaction,sendrawtransaction .

Broker Step3: Decoderawtransaction ,Preparelockunspent,  Completerawexchange , Appendrawdata , Signrawtransaction , Sendrawtransaction .

Please advise.

Daniel

Answer 1

The answer depends on whether the policy is to be represented on the blockchain as an asset, and whether the premium is represented as an asset as well. If so, you can use exchange transactions for this, but if not, you can just write the data into a stream.

One more thing: the insurance policy should be an asset owned by the broker, and the premium owner by the insurer. That's because an asset on a blockchain needs to represent something of positive value, rather than a potential liability. Anyone holding an asset can transfer it to someone else.