LIMRA is teaming up with RiskBlock Alliance to develop blockchain-technology-based services for life insurance and annuity issuers.
The partners will start by using a blockchain-based system to let life and annuity companies know when their customers have died. The system will use data from the Social Security Administration and other sources.
LIMRA is a life insurance and financial services consortium based in Windsor, Connecticut.
RiskBlock is a Malvern, Pennsylvania-based arm of the Institutes, a property-casualty insurer group.
LIMRA says its members have been working with RiskBlock for about 12 months.