Expert Speaker: Ms. Joan Zerkovich, Sr. V.P. Operations
American Association of Insurance Service
Attendees will learn the basics of blockchain technology, the current challenges to data sharing in the insurance ecosystem, and recent development on Open Insurance Data Link (openIDL), a revolutionary blockchain/distributed ledger technology developed by American Association of Insurance Services (AAIS) to improve insurance data exchange. The focus of the presentation will be on a qualified Proof of Concept for openIDL centered on a National Association of Insurance Commissioners (NAIC) data call for information to assess the impact of the COVID-19 pandemic on the business interruption insurance market. Two leading insurance carriers, regulators from nine states, and AAIS, as the licensed statistical agent, participated in the Proof of Concept, which quickly generated previously unattainable insights while maintaining data privacy and security for carriers. This technology can be a differentiator for carriers and regulators and AAIS will demonstrate its viability to all stakeholders.
