insurance

How AAIS uses blockchain to ease regulatory reporting

Insurance carriers have been collecting data for decades. The American Association of Insurance Services, or AAIS, serves as a bridge between carriers and regulators for regulatory reporting. We anonymize and aggregate a specific subset of a carriers’ data and share it with regulators. For the past 80 years, this process has required the transfer of […]

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Has blockchain tourism reached its next destination?

“I think much like the Internet was able to organize separate databases into an interlocking, networked marketplace, we see the potential to link separate blockchains together into a greater ecosystem that will lead to new business models,” said Marie Wieck, General Manager of Blockchain at IBM. “It will allow people that aren’t currently able to […]

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Introducing the next-gen platform for enterprise blockchain

As the market matures, new use cases emerge, and companies set their sights on scaling, one thing has become clear: the value of blockchain networks increases with the addition of diverse industry members. As these diverse networks drive innovation and expand, we expect to see the emergence of a thriving blockchain economy. However, diverse networks can […]

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Block chalk: How blockchain education is sprouting in Kansas

Regret never sits well. Especially when the feeling derives from something you can see a mile away. The avoidance of this feeling and the desire to attach myself to a positive disruption are driving factors that lead to my interest in blockchain. Blockchain technology is gaining momentum and I get many questions about how I […]

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Blockchain in insurance: Five reasons why openIDL will succeed

As an IBM Distinguished Engineer, I have spent the last two and a half years working on blockchain with our U.S. banking and insurance clients. More recently, I have been the IBM technical executive overseeing open Insurance Data Link (openIDL), the insurance network partnership with the American Association of Insurance Services (AAIS). It’s been very […]

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Applying blockchain privacy to the insurance industry

Recently, some of my colleagues published an excellent and informative article on the evolution of privacy and confidentiality in networks built on The Linux Foundation’s Hyperledger Fabric. As an industry practitioner, I look to apply that philosophy to insurance business network design. As the article details, “Privacy is frequently achieved by mechanisms that enforce the confidentiality […]

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What is blockchain technology?

Every day, cutting-edge technology changes the way we connect, engage and improve the world around us. Most of the time, these innovations come to life in ways that we couldn’t have imagined, allowing us to make progress faster, smarter and more efficiently than ever. Blockchain is one of those advancements. As one of the most […]

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Three areas in the insurance industry to use blockchain

You buy insurance — auto, health, life — because you want to be sure you and your family will be OK if anything unexpected happens. But as time drags on while you wait for a claim to be processed, you start to wonder if the benefits are worth the hassle and higher premiums. These negative […]

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Rethink financial services with IBM Blockchain at Distributed: Trade

Do you ever get frustrated by how long it takes for an international payment to clear? Or how difficult it is to obtain insurance for your business and products? You might be interested to know that companies around the world are working to improve these processes through technology called blockchain. And on July 24, I’ll […]

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