SYSTEMS AND METHODS FOR UTILIZING A BLOCKCHAIN FOR MAINTAINING INSURED LOSS HISTORY

1 . A computer-implemented method of utilizing blockchain technology to maintain a loss history blockchain associated with an insured, the method comprising:

receiving, via one or more processors and/or associated transceivers, an indication that the insured has filed an insurance claim associated with an insurance policy covering an insured asset and an insured identifier associated with the insured, wherein the indication includes a photograph, and wherein the insured identifier is a social security number or an insurance policy number;

hashing, via the one or more processors, the photograph;

transmitting, via the one or more processors and/or associated transceivers, the indication and the insured identifier to a plurality of nodes of a blockchain network;

accessing, via the one or more processors, the loss history blockchain associated with the insured using the insured identifier as a key to identify an insured record corresponding to the insured identifier by searching the loss history blockchain for a block which includes the insured identifier;

adding, via the one or more processors, the insured identifier, the indication of the insurance claim, and the hash of the photograph to an insured loss transaction;

creating, via the one or more processors, a new block including the insured loss transaction; and

updating, via the one or more processors, the loss history blockchain with the new block by forming a consensus on the new block with the plurality of nodes of the loss history blockchain to facilitate maintaining the loss history blockchain up-to-date.

2 . (canceled)

3 . The computer-implemented method of claim 1 , wherein a node of the plurality of nodes is associated with the insured.

4 . The computer-implemented method of claim 1 , wherein accessing the loss history blockchain using the insured identifier includes:

verifying, via the one or more processors, the insured identifier stored at the block.

5 . The computer-implemented method of claim 4 , further comprising:

wherein, if the insured identifier is not stored at a block, generating, via the one or more processors, the insured record using the insured identifier;

linking, via the one or more processors, the insured loss transaction and the insured record;

adding, via the one or more processors, the insured loss transaction to a set of insured loss transactions; and

adding, via the one or more processors, the set of insured loss transactions and the insured record to the created block.

6 . The computer-implemented method of claim 1 , wherein updating the loss history blockchain includes:

adding, via the one or more processors, the insured identifier and the indication of the insurance claim to an insured loss transaction; and

adding, via the one or more processors, the set of insured loss transactions to the created block.

7 . The computer-implemented method of claim 1 , further comprising:

solving, via the one or more processors, a cryptographic puzzle corresponding to the created block; and

adding, via the one or more processors, the solution to the cryptographic puzzle to the created block.

8 . The computer-implemented method of claim 1 , further comprising:

updating, at the memory, the loss history blockchain by adding the created block to the loss history blockchain.

9 . The computer-implemented method of claim 1 , wherein the plurality of nodes includes at least one node associated with an insurer, a vehicle, a repair shop, or combinations thereof.

10 . The computer-implemented method of claim 1 , further comprising:

receiving, via the one or more processors, a repair notification from a node associated with a repair shop.

11 . A system for utilizing blockchain technology to maintain a loss history blockchain associated with an insured, the system comprising:

a network interface configured to interface with a processor;

a memory configured to store non-transitory computer executable instructions and configured to interface with the processor; and

the processor configured to interface with the memory, wherein the processor is configured to execute the non-transitory computer executable instructions to cause the system to:

receive an indication that the insured has filed an insurance claim associated with an insurance policy covering an insured asset and an insured identifier associated with the insured, wherein the indication includes a photograph, and wherein the insured identifier is a social security number or an insurance policy number;

hash the photograph;

transmit the indication and the insured identifier to a plurality of nodes of a blockchain network;

access the loss history blockchain associated with the insured using the insured identifier as a key to identify an insured record corresponding to the insured identifier by searching the loss history blockchain for a block which includes the insured identifier;

add the insured identifier, the indication of the insurance claim, and the hash of the photograph to an insured loss transaction;

create a new block including the insured loss transaction; and

update the loss history blockchain with the new block by forming a consensus on the new block with the plurality of nodes of the loss history blockchain to facilitate maintaining the loss history blockchain up-to-date.

12 . (canceled)

13 . The system of claim 11 , wherein a node of the plurality of nodes is associated with the insured.

14 . The system of claim 11 , wherein to access the loss history blockchain using the insured identifier, the instructions, when executed by the processor, cause the system to:

verify the insured identifier stored at the block.

15 . The system of claim 14 , wherein the instructions, when executed by the processor, cause the system to:

wherein, if the insured identifier is not stored at a block, generate the insured record using the insured identifier;

link the insured loss transaction and the insured record;

add the insured loss transaction to a set of insured loss transactions; and

add the set of insured loss transactions and the insured record to the created block.

16 . The system of claim 11 , wherein to update the loss history blockchain, the instructions, when executed by the processor, cause the system to:

add the insured loss transaction to a set of insured loss transactions; and

add the set of insured loss transactions to the created block.

17 . The system of claim 11 , wherein the instructions, when executed by the processor, cause the system to:

solve a cryptographic puzzle corresponding to the created block; and

add the solution to the cryptographic puzzle to the created block.

18 . The system of claim 11 , wherein the instructions, when executed by the processor, cause the system to:

update the loss history blockchain by adding the created block to the loss history blockchain.

19 . The system of claim 11 , wherein the plurality of nodes includes at least one node associated with an insurer, a vehicle, a repair shop, or combinations thereof.

20 . The system of claim 11 , wherein the instructions, when executed by the processor, cause the system to:

receive a repair notification from a node associated with a repair shop.

21 . The computer-implemented method of claim 1 , wherein the insured identifier is the social security number.