Insurtech (2)

openIDL Elevates to Linux Foundation Project

Apr 19, 2021 / by AAIS posted in openIDL, Technology, Issues & Trends, Data & Technology, Data Management/Distributed Ledger, Open Source, Insurtech, Blockchain, Data, Security, AAIS Pulse, Data/Tech, Insurance Services/TPAs, CyberPolicy, Linux Foundation, Hyperledger

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AAIS CEO Ed Kelly opened the April 13 edition of AAIS Pulse newsmagazine with an exciting announcement: AAIS has launched openIDL as a Linux Foundation project. The Linux Foundation is the preeminent nonprofit consortium supporting one-source technologies that drive innovation and transform industries.

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Leveraging Open Source Technology: Obstacles and Opportunities

Mar 3, 2021 / by AAIS posted in openIDL, Community, Technology, Issues & Trends, Data & Technology, Data Management/Distributed Ledger, Open Source, Tech News, Insurtech, Regulatory/Compliance, Blockchain, Data, Innovation, AAIS Pulse, Data/Tech, Compliance, Travelers, Data Call, Linux Foundation, Hyperledger, AAIS Views

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During the February 2021 AAIS Pulse newsmagazine, AAIS VP Truman Esmond was joined by Brian Behlendorf, Executive Director of Hyperledger, Brian Hoffman, Vice President State and Bureau Regulatory Affairs, at Travelers, and Arron Lamp, Vice President Enterprise Business Intelligence & Analytics & Operations, at Travelers, to discuss the obstacles and opportunities around leveraging open-source technology.

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AAIS Service Supports Hurricane Risk Assessments, CAT Planning & Event Tracking

Feb 23, 2021 / by AAIS posted in openIDL, Community, Technology, Issues & Trends, Data & Technology, Insurance News/Current Events, Open Source, Insurtech, IoT, Data, Data/Tech, AAIS Views, hurricanes, NatCats

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Accurate risk assessment is key to mitigating exposure and to unlocking underwriting opportunities.

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AI and Modern Compliance

Jan 9, 2021 / by AAIS posted in Community, Technology, Machine Learning/AI, Issues & Trends, Data & Technology, Insurtech, Regulatory/Compliance, Insurance Operations, Innovation, AAIS Insights, AAIS Pulse, Executive, NAIC, Regulation, Compliance, Locke Lorde, AI, AAIS Views

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In August of 2020, the NAIC adopted five guiding principles for artificial intelligence (AI), based on the Organization for Economic Cooperation and Development’s AI Principles which have been adopted by 42 countries across the globe. These five principles include: Fair and Ethical Accountability, Compliance, transparency, security, safety, and robustness of outputs.

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Design Thinking: A Human-Centric Framework for Problem Solving

Aug 20, 2020 / by Truman Esmond posted in openIDL, Community, Issues & Trends, Insurtech, IoT, Working in Insurance, P&C Insurers, Innovation, Design Thinking, AAIS News & Views, AAIS Insights, Executive, AAIS Views

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Design Thinking is a practical and creative approach to problem solving, used in industries and organizations searching for new, customer-centric ways to enhance the customer experience. Design Thinking aims to better understand consumers' needs and formulate an innovative solution for them. When utilized properly, this framework allows organizations to create faster, more profitable innovations at a more efficient rate. At AAIS, Design Thinking helps formulate innovative insurance solutions, such as the openIDL distributed ledger technology for regulatory reporting in 2018.

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The Open Road to Real Change in the Insurance Industry

Jul 9, 2020 / by AAIS posted in openIDL, Community, Technology, Data & Technology, Events, AAIS Event Archive, Open Source, Tech News, Insurtech, Telematics, Auto, Blockchain, Latest News, Agile, Data/Tech, Insurance Services/TPAs, 2020 VME, IBM, Linux Foundation, Hyperledger, AAIS Views

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IBM, who has partnered with AAIS on the development of the openIDL data-management platform on blockchain, has long been a strong proponent of open-source software development. Chris Ferris, an IBM Fellow and CTO for Open Technology at IBM, spoke to AAIS’s Joan Zerkovich on the importance of the open-source concept and the powerful outcomes IBM has seen from building technology in an open environment.

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Parallels Between Yesterday and Tomorrow: Building Data Networks for Success

Jun 30, 2020 / by Joan Zerkovich posted in openIDL, Community, Technology, Data & Technology, Data Management/Distributed Ledger, Distributed Ledger, Insurtech, IoT, Blockchain, Data/Tech, 2020 VME, AAIS Views

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Open source technology. Collaboration and cooperation to improve the products and technologies necessary to move innovation forward. Building a platform where new applications are welcomed to extend the tool’s use cases. These fundamental practices led to the creation of the Internet…and are being seen again as distributed ledger technology takes center stage.

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Open Source at Work: The COVID-19 Data Call

Jun 20, 2020 / by AAIS posted in openIDL, Community, Issues & Trends, Data & Technology, Insurance News/Current Events, Open Source, COVID-19, Insurtech, Regulatory/Compliance, Regulators, Travelers, Data Call, Business Interruption, The Hartford, AAIS Views

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When the COVID-19 pandemic hit the United States, regulators quickly realized two problems. They would need to collect massive amounts of data and issue multiple data calls, particularly around business interruption, and there was no secure, efficient way to gather this data to truly understand the impact COVID-19 was having on the P&C market. With business interruption claims growing, a quick, effective solution was needed.

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A Data-Driven Future: 2020 Auto Trends

Jun 16, 2020 / by Casey Brewer posted in Issues & Trends, Data & Technology, Insurtech, Telematics, P&C Insurers, Auto, Commercial Auto, Data/Tech, Data Management, 2020 VME, TNEDICCA, AAIS Views

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The auto industry is fueling up for new technology down the road. Fully autonomous vehicles and advanced crash-data analysis will all impact not only how the industry operates, but how it is insured as well.

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Reliable Robotics Take on Tasks

Oct 21, 2019 / by Mutual Boiler Re posted in Community, Technology, Issues & Trends, Data & Technology, Robotics/Drones, Insurtech, IoT, New/Emerging Risks, Industry, Farming, Data/Tech, Mutual Boiler Re, FM Global Group, AAIS Views

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Robots – once the subjects of science fiction books, movies and TV programs – are now real-life partners involved in our daily lives in many ways.

Robotic applications are cropping up everywhere to replace an assortment of jobs that
have been performed by humans for decades. Often times, they’re designed to perform a very specific task, allowing them to deliver enhanced productivity, reduced operating costs and decreased error rates. They can be found in various locations and industries, completing repetitive tasks such as assembling orders in a warehouse, harvesting crops on a farm and even preparing meals at a fast-food restaurant.

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