Case Study: Travelers streamlines insurance regulatory reporting with Hyperledger openIDL

Travelers tests 5 million records in under 90 days with Hyperledger

Travelers, a major insurance company, faced a broken and inefficient process for regulatory reporting. The manual effort to compile data for numerous state regulators was overwhelming, costly, and provided little value. To solve this, they worked with the vendor Hyperledger and the American Association of Insurance Services (AAIS) to build a new platform using the Hyperledger Fabric framework.

The solution was the openIDL blockchain network, developed by Hyperledger and IBM. This platform automated data uploads and provided a secure, permissioned way for regulators to request information. The results were highly successful; a prototype handling five million records was created in under 90 days. The system saves large insurers millions of dollars in annual reporting costs and provides regulators with more timely and accurate data.

Travelers