Blockchain

IMUA Vice President Shares Inland Marine Market Trends, Climate Change Impacts, and Tech Innovations Ahead of Annual Meeting

Apr 10, 2024 / by AAIS posted in Technology, Inland Marine, Climate Change, Blockchain, IMUA, Artificial Intelligence, Inflation, Analytics

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AAIS spoke with Lillian Colson, Vice President and Secretary of Inland Marine Underwriters Association (IMUA), the national association for the commercial inland marine insurance industry in the U.S. Colson discussed trends shaping today’s inland marine market, effects of climate change on inland marine, the use of data and technology tools, and what’s new at IMUA, including its upcoming Annual Meeting.

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Tapoly CEO Shares How Insurance Companies Can Achieve Efficiency Utilizing Automated Technology

May 18, 2023 / by Janthana Kaenprakhamroy posted in Insights, Technology, Issues & Trends, Data & Technology, Insurtech, Blockchain, AAIS News & Views, AAIS Insights, Data/Tech, Artificial Intelligence, Machine Learning, Analytics, Tapoly

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For the second part of our blog series featuring Tapoly, the digital provider of flexible insurance products and insurance technology solutions, CEO Janthana Kaenprakhamroy gives insight into how insurance companies can utilize automated technology to achieve efficiency. Kaenprakhamroy delves into how this technology can be utilized, where to apply these solutions within a company, obstacles insurers may face, and how SaaS solutions can help.

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AAIS Pulse Replay: Open-Source Solutions for Today’s Insurance Challenges

Apr 26, 2023 / by AAIS posted in openIDL, Technology, Data Management/Distributed Ledger, Open Source, Blockchain, AAIS Pulse, Linux Foundation, Hyperledger

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There have been many obstacles in solving data and technology issues across the insurance ecosystem and other industries have raised their game with an open-source mindset. In the AAIS Pulse session, Open-Source Solutions for Today’s Insurance Challenges, host Joan Zerkovich, Senior Vice President of Operations at AAIS, led a discussion with Daniela Barbosa, General Manager of Blockchain and Identity at The Linux Foundation and Executive Director of the Hyperledger Foundation, and Hart Montgomery, CTO at the Hyperledger Foundation, to explore what insurance challenges could be addressed in an open-source environment. They examined how initiatives like openIDL are different from past efforts in the industry and how carriers and other stakeholders get involved in leveraging these technologies to define the future of information-sharing in insurance.

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NAIC Secretary-Treasurer Scott White Reviews NAIC’s Focus on Climate Risk and Resiliency, Artificial Intelligence, and Modernization Efforts

Apr 21, 2023 / by AAIS posted in Machine Learning/AI, Blockchain, AAIS Pulse, NAIC, Regulators, Artificial Intelligence, Machine Learning, Virginia

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In the AAIS Pulse session Commissioner’s Corner: Catching Up with National & State Insurance Regulators, host Lori Dreaver Munn, Director of Compliance and Government Relations at AAIS spoke with multiple leading regulators for their insights on trending regulatory topics including Scott White, Commissioner of the Virginia State Corporation’s Bureau of Insurance and NAIC Secretary-Treasurer. In this interview, White talks about his top issues of concern for the NAIC in 2023, artificial intelligence (AI) and blockchain in insurance, key initiatives for the state of Virginia, and more.

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North Dakota Insurance Commissioner Discusses POC Testing openIDL Blockchain to Assess Uninsured Driver Issue

Aug 1, 2022 / by AAIS posted in openIDL, Technology, Issues & Trends, Data & Technology, Data Management/Distributed Ledger, Insurance News/Current Events, Tech News, Auto, Blockchain, Data/Tech, Linux Foundation, auto insurance, Regulatory Reporting, North Dakota Insurance

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AgriCon Focus on Timely Industry Issues: Blockchain Potential, Cannabis Complexities

Mar 21, 2022 / by Hope King posted in openIDL, Technology, Issues & Trends, Open Source, Cyber, Agribusiness, Cannabis, CannaBOP, Farm & Ag, Blockchain, Farming

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AAIS recently attended the IRMI Agribusiness Conference (AgriCon), the premier event for insurance and risk management professionals specializing in the exposures and coverage needs of farms and agribusinesses. Among the many interesting and informative sessions, AAIS Product Development Specialist Hope King highlighted two topics particularly near and dear to AAIS and our Members.

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Leading State Regulators Talk Blockchain, AI, and Modernizing Regulatory Reporting

Feb 7, 2022 / by AAIS posted in openIDL, Technology, Machine Learning/AI, Issues & Trends, Events, Regulatory/Compliance, Blockchain, Legislation & Regulation, AAIS Pulse, AAIS Event Archives, Data/Tech, GLC, Machine Learning

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The AAIS Pulse newsmagazine recently featured discussions with Mississippi Insurance Commissioner Mike Chaney and Connecticut Insurance Department Asst. Deputy Commissioner, Property & Casualty Division, George Bradner. They sat down with AAIS VP of Government Affairs, Legal, and Compliance, Robin Westcott, to cover a wide array of topics including data collection, data management, openIDL and its benefits, machine learning, and much more.

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CT Commissioner / AAIS VP Talk openIDL, Blockchain, & Democratization of Data

Dec 13, 2021 / by AAIS posted in openIDL, Community, Issues & Trends, Data & Technology, Data Management/Distributed Ledger, Insurance News/Current Events, Tech News, Regulatory/Compliance, Blockchain, Data, Legislation & Regulation, Data/Tech, GLC

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Connecticut Insurance Commissioner Andrew Mais and AAIS VP of Government Affairs, Legal and Compliance, Robin Westcott, recently appeared on AM Best TV to discuss our successful openIDL Proof of Concept (POC) surrounding a COVID-19 Data Call, and how this revolutionary blockchain platform is paving the path for better regulatory reporting across the insurance industry. Watch the replay in full here:

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Value of Blockchain “Sandboxes” Being Realized by Regulators

Nov 17, 2021 / by Robin Westcott posted in Community, Technology, Data & Technology, Data Management/Distributed Ledger, Tech News, Regulatory/Compliance, Blockchain, Legislation & Regulation, Data/Tech

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We’re at an inflection point with blockchain technology. A greater community of interest has developed beyond cryptocurrency with the realization that blockchain can solve all types of problems. Insurance regulators nationwide are starting to create “sandboxes,” essentially incubators where new technologies and innovations can be developed and tested, exempt from prohibitive regulations, until a proper regulatory framework can be created.

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Blockchain: The Next Big Thing

Oct 8, 2021 / by Robin Westcott posted in openIDL, Issues & Trends, Data & Technology, Data Management/Distributed Ledger, Tech News, Regulatory/Compliance, Blockchain, Data/Tech, Modeling/Actuarial

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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

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