Case Study: The Institutes RiskStream Collaborative achieves faster death claims processing with Kaleido

RiskStream Collaborative Study Demonstrates Viability of Mortality Monitor

The Institutes RiskStream Collaborative, the insurance industry's largest blockchain consortium, faced challenges with inefficient data-sharing during the death notification process for life insurance and annuities. This inefficiency led to delays in carriers identifying policyholder deaths and processing claims for beneficiaries.

Using Kaleido's blockchain infrastructure, the consortium developed the Mortality Monitor application on the Canopy platform. The solution created a permissioned network for secure data exchange. A viability study with three carriers found that 4% of deceased individuals had policies with another carrier, and the solution demonstrated the potential to reduce a median 55-day payment gap, expediting the death benefits process industry-wide for Kaleido's customer.

The Institutes RiskStream Collaborative

Sophia Lopez

Founder & Chief Operating Officer