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