american association of insurance services blockchain Archives

Major US Insurance Advisory AAIS and IBM Pilot Blockchain Insurance Data Platform

20th August 201820th August 2018 BCTechreportamerican association of insurance services blockchain, bctech, bctech report, big data blockchain, blockchain financial product, blockchain insurance, blockchain insurance data platform, blockchain news, blockchain regulations, blockchain supply chain, blockchain technology, blockchain technology news, corporate blockchain, decentralised, distributed ledger technology, enterprise blockchain, enterprise blockchain solution, financial blockchain technology applications, fintech, hyperledger, Hyperledger blockchain, hyperledger fabric, ibm blockchain, ibm hyperledger, insurance blockchain, insurance blockchain platform, ledger technology, openidl, openidl blockchain

One of only two major ‘rating bureaus’ in the US, the American Association of Insurance Services (AAIS), has partnered with IBM to launch a blockchain insurance data platform. Entitled Insurance Data Link (openIDL), it aims to simplify regulatory reporting for insurance carriers, which currently requires time-consuming data calls across various parties. Several major US insurers are being on-boarded, and AAIS is reported to be targeting carriers and organisations of “every size and configuration”.