Navigating Inclusive Waters: Blockchain-Based Insurance Services for Indonesian Fisherfolk through Multi-Stakeholder Approach

Abstract

Fishermen often encounter occupational hazards and equipment damage in their pursuit of a marine bounty. To address these risks, the Ministry of Marine Affairs and Fisheries (KKP) collaborated with Jaminan Asuransi Indonesia (Jasindo) to provide Fishermen Insurance Premium Assistance (BPAN). However, the unequal distribution of insurance and fishermen's limited understanding of risk protection have hindered the widespread enrollment in BPAN. Thus, an inclusive program is needed to increase the number of registered fishermen to insurance and manifest an effective insurance service process. This qualitative descriptive study seeks to grasp the phenomenon of inadequate insurance distribution among fishermen in Indonesia. Data is gathered through documentary and literature reviews. The proposed solution is Netfisher, an inclusive blockchain-based insurance service program tailored for fishermen. Blockchain technology can integrate large volumes of data and decentralize it, minimizing the likelihood of fraud occurrences. Under this program, KKP will collaborate with Jasindo to expand insurance coverage, utilize Microsoft Azure for blockchain adoption, and collaborate with relevant stakeholders to deter fraud. Premium payments and claims distribution will be facilitated through mobile banking. As a result, the distribution of fishermen's insurance will be more equitable, safeguarding fishermen's economic well-being and expediting progress towards Sustainable Development Goals 8.