Blockchain: The Next Big Thing

Oct 8, 2021 / by Robin Westcott

In August, AAIS Views detailed the results of our hugely successful Proof of Concept (POC) for openIDL (Open Insurance Data Link) that proved the blockchain technology can dramatically improve the insurance regulatory reporting proves for insurers and regulators. We also saw that insurer information could be correlated with data from other sources to reveal deeper insights, and that data could be leveraged by regulators, while remaining private, secure and in full control of participating carriers

Robin Westcott, VP of Government, Legal, and Compliance at AAIS, recently penned an article about these game-changing developments published in Insurance Thought Leadership. Within this piece, she discusses the ‘what’ and ‘why’ of blockchain technology for AAIS and the industry, how design-thinking led to openIDL, and how getting buy-in from key stakeholders – was so critical.

read article

For more content on blockchain/distributed ledger technology, visit this section of our intellectual capital blog, AAIS Views.

If you would like to learn more about participating in future proofs of concept, please contact Robin Westcott at robinw@aaisonline.com or Lori Dreaver Munn at lorim@aaisonline.com.

 

Tags: openIDL, Issues & Trends, Data & Technology, Data Management/Distributed Ledger, Tech News, Regulatory/Compliance, Blockchain, Data/Tech, Modeling/Actuarial

Robin Westcott

Written by Robin Westcott

VP of Government Affairs, Legal & Compliance - Robin S. Westcott, J.D. is Vice President of Government Affairs, Legal & Compliance (GLC) at AAIS. She is an attorney who spent more than 20 years in insurance-related regulatory positions in Florida. Robin oversees product compliance operations, consults with state insurance departments about the practical implications of regulatory initiatives and acts as the general counsel. She has helped to lead critical AAIS initiatives, including CannaBOP cannabis coverage and openIDL. Robin has a BS and JD from Florida State University.

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