Blockchain for insurance

Revolutionize the trust that powers insurance. Unlock new business value through an immutable foundation of transparency and shared purpose. Let’s put smart to work.™

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Overview

Let’s reimagine the business of insurance together

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

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


Benefits
Automate underwriting Increase speed and cost efficiency with smart contracts. Automate claims settlement Cut costs with automated claim and data verification. Reduce fraud and abuse Prevent misuse with improved traceability and accountability.

What’s blockchain’s potential ROI in insurance ?

Discover the positive impact Forrester says IBM Blockchain can have on your business. This report includes:

  • Blockchain technology and market overview
  • Financial model framework
  • Projecting new revenue and savings
  • Expanded economic impact and analysis of costs
  • Sample organization calculation and financial summary

Next Steps

Learn how to get started

No matter where you are on your blockchain journey, IBM can help you take the right next step. Learn how you can get started with IBM Blockchain.

Blockchain consulting and services

Leverage industry leading expertise and find a shorter path to innovation.  Benefit from joining established networks or build and scale your own along side experts.

Connect with an expert

Contact a representative and get help with questions on how to start you blockchain journey.

Blockchain use cases

Be inspired by how innovators are transforming their businesses through use cases built on the IBM Blockchain Platform.