openIDL Pilot Delivers First-Ever Advantages for Insurance Regulatory Reporting
Lisle, IL, Aug. 17, 2021 (GLOBE NEWSWIRE) -- American Association of Insurance Services (AAIS) today announced that its initial Proof of Concept (POC) for the open Insurance Data Link (openIDL) demonstrated that it can dramatically improve both the output and process of insurance regulatory reporting for insurers and regulators.
- Lisle, IL, Aug. 17, 2021 (GLOBE NEWSWIRE) -- American Association of Insurance Services (AAIS) today announced that its initial Proof of Concept (POC) for the open Insurance Data Link (openIDL) demonstrated that it can dramatically improve both the output and process of insurance regulatory reporting for insurers and regulators.
- During the pilot, openIDLs blockchain/distributed ledger technology exhibited several advantages over traditional methods of regulatory compliance.
- The insights openIDL can generate can both ease and elevate regulatory reporting.
- AAISs strategic work and partnerships led to the creation of openIDL, the data and information sharing platform for regulatory reporting built on distributed ledger technology, now a Linux Foundation Project.