With insurance policy records stored on the blockchain, insurance agents can make smart contracts for each policy with payment details, accounts to be paid for and conditions preconditions for the implementation of each smart contract. In the case of a claim, Insurance researchers can verify claims and record their findings on the blockchain, depending on where the smart contract will be executed. This will not only streamline the industrial system by reducing time and energy if needed manually in completing the process but also reduces the waiting time to receive the insurance claim.