In a virtual interview, North Dakota Insurance Commissioner Jon Godfread discussed the recent initiative regarding North Dakota Insurance Department’s (NDID) selection of AAIS and openIDL to conduct a Proof of Concept identifying uninsured drivers in the state. He touches on other key topics including the biggest issues facing insurance regulators, using blockchain to understand the uninsured motorist issue, attractive features of the openIDL Blockchain Platform, the role of AAIS in testing openIDL as a solution, and the overall impact of modern technologies on the U.S. insurance industry. He also offered some advice for insurance carriers and regulators who might begin looking at insurance blockchain solutions.
Click the video above to watch the full Regulatory Brief.