Case Study: The Institutes RiskStream Collaborative achieves secure real-time FNOL data exchange with Kaleido blockchain platform

RiskStream Collaborative® Members Successfully Exchange Loss Data Using its First Notice of Loss (FNOL) Blockchain Application

The Institutes RiskStream Collaborative, the insurance industry’s largest enterprise-level blockchain consortium, needed a faster, more secure way for carriers to exchange first notice of loss (FNOL) data and reduce the manual effort, delays, and reconciliation issues involved in claims sharing. To support this, they used Kaleido’s enterprise blockchain platform as the foundation for the RiskStream Canopy 3.0 network.

Kaleido enabled a permissioned FNOL data-sharing application that let member carriers create, update, match, and privately exchange loss records in real time within their existing claims workflows. The solution was successfully tested by eight consortium members, confirming accurate and secure data exchange and demonstrating potential benefits such as shorter claims cycle times, lower handling costs, and reduced manual information-sharing across carriers.

The Institutes RiskStream Collaborative

Sophia Lopez

Founder & Chief Operating Officer