ABSTRACT
This chapter presents Niramaya, a novel architecture that revolutionizes the process of settling and paying medical insurance claims through automation and blockchain technology. It uses blockchain technology to securely maintain private medical records, addressing the inefficiencies of conventional claim procedures. The chapter describes the methodical procedure for gathering, encrypting, and storing documents made possible by blockchain technology, guaranteeing unchangeable security and privacy. Our suggested approach incorporates digital twin technology to evaluate creditworthiness for disadvantaged people applying for loans during medical emergencies, in addition to improving operational efficiency and lowering fraud risks. Financial organizations may assess creditworthiness more precisely thanks to digital twins, which are virtual representations of people created from extensive data inputs. The review process is expedited by integrating these digital twins into our blockchain-driven architecture, which may also provide underserved people with more easily accessible financial services options in the event of a medical emergency. The suggested approach has been shown to be both feasible and effective through thorough research and testing, offering insights into its potential for broad adoption in enhancing vulnerable populations’ access to healthcare finance.
