Bismarck, North Dakota – – North Dakota Insurance Department (NDID), in combination with North Dakota Department of Transportation (NDDOT) is using blockchain technology to conduct a proof of concept (“POC”) to identify uninsured drivers.
NDID selected AAIS ((((American Insurance Services Association) And openIDL open source Linux Foundation project Conduct a POC to identify uninsured drivers in the state.
Recent estimates from 2019 show that about 13% of vehicles North Dakota It is driven by an uninsured driver. These estimates are considered very inaccurate as they are derived from known uninsured claims. Therefore, it does not take into account uninsured property damage claims or small claims that lead to indemnity claims without negligence.
NDID is working to reduce the problems of uninsured drivers in the state, but first the problem needs to be assessed more accurately. NDID is leveraging blockchain technology to collect the information it needs more efficiently and effectively while maintaining maximum privacy and security for the data collected. Blockchain technology is used as a secure digital ledger.
NDID conducts a POC that correlates data from databases maintained by NDDOT and individual car carriers to compare the number of registered vehicle identification numbers (VINs) with the insured’s VIN. I am.NDID has outsourced to support this POC AAISAn advisory body focused on national members, and an open source Hyperledger blockchain platform operated by openIDL, The Linux Foundation..
NDID is working with car insurance companies to enhance the data available at this POC.
“We are excited to work to find a solution to our problem. North Dakota“The insurance commissioner said John Godfried.. “Working with the openIDL blockchain platform AAIS It helps us determine if this technology can help us solve our problems through accurate, timely and verifiable information. “
“We applaud Commissioner Godfred’s vision and initiative,” he said. Ed KellyPresident and Chief Executive Officer AAIS.. “OpenIDL believes that it can streamline regulator reporting, provide unprecedented insights, and at the same time protect the uniqueness of the data provided by carriers. Ultimately, carriers and regulators. We aim to promote more productive collaboration between and support product development and a healthy insurance market. “
