IBM Blockchain - Insurance

Name of Association/Consortium

Website and Maturity

https://www.ibm.com/blockchain/industries/insurance

Website Maturity: Mature

Focus

Technology Platform

Functional Area

AI
Blockchain Technology
IoT

Industries

Insurance

Legal Entity Type

Other/Unknown

Region

Region - Global

Charter/other text describing objectives

Technological disruption has come to insurance — and the smart risk management strategy is to embrace it. IBM Blockchain is helping the insurance industry radically transform operations with faster verifiable data exchanges, visibility for all parties, and transactions underpinned with pervasive security and trust.

One example of this transformation is openIDL, a network built on the IBM Blockchain Platform with the American Association of Insurance Services (AAIS). They’re automating insurance regulatory reporting and streamlining compliance requirements, and that’s improving efficiency and accuracy for both insurers and state insurance departments.