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Regulatory demands for data are growing, while the volume of data insurers must sort through to comply is expanding exponentially. As a result, the essential insurer-regulator transaction continues to become more time-consuming, expensive and less effective.
But it doesn’t need to be. openIDL is here.
openIDL, an open source, distributed ledger platform, infuses efficiency, transparency and security into regulatory reporting: With openIDL, insurers fulfill requirements while retaining the privacy of their data. Regulators have the transparency and insights they need, when they need them.
Initially developed by AAIS, expressly for our Members, openIDL is now being further advanced by the Linux Foundation as an open-source ecosystem for the entire insurance industry.
Get the full benefits of openIDL and much more with
AAIS All-Access Membership.
Deployed for a COVID-19 regulatory data call, the openIDL blockchain/distributed ledger technology generated previously unattainable insights, quickly, while maintaining data privacy and security. The Proof of Concept successfully demonstrated that openIDL can dramatically improve both the output and process of insurance regulatory reporting for insurers and regulators.
For more information, read the Press Release and Proof of Concept report below.
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Comply with regulatory reporting requirements most efficiently while keeping data private and in your control.
Gain targeted insights into exposures, market activity and trends far more easily and in a neutral, trusted environment.
Industry stakeholders can access valuable resources, knowledge, and tools that enhance industry offerings and innovation.
openIDL: POC Report on NAIC COVID-19 Data Call
AAIS VP & General Counsel Robin Westcott presented the results of a Proof of Concept (POC) testing whether openIDL could support a COVID-19 Business Interruption Data call issued by the NAIC. Here are highlights from Ms. Westcott's presentation of the positive findings, declaring that Distributed Ledger Technology had passed the test enroute to even broader applications across the industry.
When data becomes actionable insight, we all win.
See how openIDL benefits carriers, regulators & the insurance community.
Ask openIDL – and get answers and insights. Streamlined regulatory reporting. Efficient, accelerated product development. And more.
All with permission-controls and gold-standard cyber protection keeping data secure.
openIDL: Building the Road to Modern Insurance
openIDL: Building Tomorrow's Insurance Ecosystem Today
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Explore openIDL, the Open Source Platform.
Report Highlights: openIDL Passes COVID-19 BI Data Call Test
On Aug. 16, at the 2021 Summer National Association of Insurance Commissioners (NAIC) National Meeting, AAIS VP of Government Affairs, Legal & Compliance, Robin Westcott, presented the results...
Shifting the Data Sharing Paradigm with openIDL
Clive Humby said it best with his oft-cited quote – “data is the new oil.” It is true that the value of data is in its refinement and synthesis into useful insights, tools, and products, all predicated on the existence of a complex infrastructure to...
Artificial Intelligence is Modernizing Regulatory Compliance
Risks are continually evolving and emerging, requiring updates to insurance policies in order for carriers to keep pace with market need. Whether you’re a regulator or an underwriter, reviewing new...
North Dakota Insurance Commissioner Discusses POC Testing openIDL Blockchain to Assess Uninsured Driver Issue
In a virtual interview, North Dakota Insurance Commissioner Jon Godfread discussed the recent initiative regarding North Dakota Insurance Department’s (NDID)...