Case Study: AAIS (American Association of Insurance Services) streamlines regulatory reporting and cuts costs with Hyperledger Fabric

openIDL streamlines regulatory reporting for U.S. insurance industry with Hyperledger Fabric

The American Association of Insurance Services (AAIS) needed to fix a fragmented, costly regulatory reporting process that left regulators with outdated data and carriers dedicating large teams to manual submissions. AAIS sponsored and built openIDL — the industry’s first production blockchain platform — using Hyperledger Fabric to create a permissioned, secure way for insurers to share anonymized data with regulators.

Built on Hyperledger Fabric, openIDL delivers a permissioned blockchain network and managed “openIDL in a Box” onboarding that harmonizes carrier data and enables real-time, automated uploads. Hyperledger-powered openIDL produced a prototype and tested five million records in less than 90 days, gives regulators timelier market insight, replaces rigid batch reporting, and can save large insurers millions of dollars annually.

AAIS

Truman Esmond

Vice President of Solutions and Partnerships