The Institutes RiskStream Collaborative is the risk management and insurance industry’s first enterprise-level blockchain consortium that brings together experts and developers to advance insurance-specific use cases via Canopy, a custom blockchain architecture. The RiskStream Collaborative is committed to equipping organizations to work together to inspire product innovation, enable efficiencies, and open new technological frontiers.
The life insurance industry lacks a single source of truth for processing death benefits and claims. For all participants, the multiple handoffs between systems and people increase time, cost, and risk.
Mortality Monitor proof of concept is a blockchain-based technology solution that offers a single source of digital decedent information required to process a claim. Instant notification helps carriers proactively identify potential deaths more quickly, reducing the burden on the beneficiary, and shortening the cycle time.