accountalert-bluealert-grayalert-redalert-whitearrow-downarrow-uparrows-clockblue-trophycalendar-clockcalendarcart-iconWhat You Walk Away Withceucheckchecklistcheckmarkchevron-down-graychevron-down-whitechevron-downchevron-left-thinchevron-leftchevron-right-thinchevron-rightchevron-upclipboard-clockclosecompleted-ribbondesktopemailexpandTry It for Freelive-courselivemap-markernotificationonline-courseonline-learning-gray100% Online Learningpdfphoneplay-buttonpluspreorderPricing Optionsquote-close-darkquote-closequote-open-darkquote-openrole-agents-brokersrole-claimsrole-customer-servicerole-data-scientistsrole-risk-managementrole-underwritingsearch-barsearchstarstopwatchtool-tipvertical-certificatevirtual-exam-gray

The Institutes RiskStream Collaborative and LIMRA Announce First Blockchain Use Case for Life Insurance and Annuity Sector

Mortality Monitor will help insurers address regulatory requirements to compare policyholder data with the Social Security Administration's Death Master File 

MALVERN, Pa., and WINDSOR, Conn., September 20, 2018—The Institutes RiskStream CollaborativeTM, and LIMRA have announced the first blockchain use case for the insurance consortia’s newly formed life and annuity sector. 

The application, Mortality Monitor, will leverage Social Security data, other data sources and policyholder records to provide real-time notification to members of the death of life insurance and annuity policyholders. This blockchain-powered solution will improve claims processing, reduce fraud and increase customer satisfaction.

“More than 20 states require life insurers to cross-reference the Social Security Death Master File with their in-force business to ensure that eligible beneficiaries receive the life insurance death benefit when their loved ones die,” said Christopher G. McDaniel, president of the RiskStream Collaborative. “Using blockchain technology, we will enable companies to not only meet the state regulatory requirements but better serve their customers, identify and prevent fraud, and have proof that the appropriate proceeds have reached intended recipients.”

The RiskStream Collaborative and LIMRA have also formed a new life and annuity sector. Participating life insurance and annuity companies will be part of the life insurance industry’s first enterprise-level blockchain consortium, joining the RiskStream Collaborative’s 31 property and casualty insurance members, who are working together to develop blockchain solutions that create business efficiencies and improve the customer experience in their market. 

Over the past 12 months, LIMRA members have held several working labs with the RiskStream Collaborative to identify the best opportunities to use blockchain technology in the life insurance and annuity space. In addition to the Mortality Monitor, members have identified four other blockchain applications to benefit the life and annuity sector.  

“While some suggest blockchain is the cure for all that ails the industry, finding the right use case where the technology provides a real advantage is essential. LIMRA’s Blockchain Advisory Council felt strongly that blockchain would be very effective in creating an enhanced and more accurate platform to comply with the Death Master File regulations,” said Robert A. Kerzner, president and chief executive officer, LIMRA, LOMA and LL Global. “As not-for-profit organizations, the RiskStream Collaborative and LIMRA are well positioned to put the needs of the insurance industry first, and we look forward to developing additional practical applications powered by blockchain technology.”

The RiskStream Collaborative’s mission is to develop blockchain solutions that will lower industry transaction costs, improve the customer experience and increase the speed and security of data transfers. For more information about The Institutes RiskStream Collaborative, including details on how interested organizations can join, please visit


About LIMRA   
LIMRA, a worldwide research, consulting and professional development organization, is the trusted source of industry knowledge, helping more than 600 insurance and financial services companies in 64 countries. Visit LIMRA at