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LIMRA and The Institutes RiskStream Collaborative Announce Plans to Develop Blockchain Solution for Life Insurance Licensing and Appointments

Advisory Board Pursuing Second Use Case to Streamline the Credentialing Validation Process in the Life and Annuity Market

WINDSOR, Conn., and MALVERN, Pa., June 3, 2019— LIMRA and The Institutes RiskStream Collaborative™ today announced plans to pursue a blockchain use case that will streamline the licensing validation and appointment process for agents.

A new working group representing nine members of the RiskStream Collaborative™ life and annuity sector will use state and federal regulatory data to develop a licensing and appointments application. The app will automatically validate agents’ and advisers’ licensing credentials to sell specific life insurance and annuity products. The information will be available to all carriers and intermediaries that are part of the RiskStream Collaborative.

“According to LIMRA research, there are 200,000 independent agents in the United States who have an average of 11 separate carrier sales agreements, requiring considerable duplicative paperwork to comply with the growing regulatory requirements to validate agents’ credentials to sell specific products in each state,” said Gina Birchall, chief operating officer, LIMRA, LOMA and LL Global. “Blockchain offers a unique solution that can benefit our industry and its consumers. Streamlining these core business processes will save carriers and distributors money and resources, allowing them to offer greater value to their customers.”

The RiskStream Collaborative U.S. Life & Annuity Advisory Board unanimously voted to select licensing and appointment as its next use case.

“This is the second use case that the U.S. Life & Annuity Advisory Board has chosen to develop in 2019, and it offers great promise for the industry” said Christopher McDaniel, president of the RiskStream Collaborative. “This use case and the Mortality Monitor have the potential to provide a competitive advantage for participants by lowering industry transaction costs, improving customer experience and increasing the speed and security of data transfers.”

The RiskStream Collaborative will begin to build a proof of concept for one of the two use cases selected in the coming months, and that application is expected to be available in 2020.

The Institutes, a leading provider of risk management and insurance education and research, launched the not-for-profit consortium in 2017 and in 2018 partnered with LIMRA, the largest global research trade association for the life insurance and financial services industry to support the life and annuity sector.

For more information about blockchain technology and to receive updates on The Institutes RiskStream Collaborative, visit or


About LIMRA 
Serving the industry since 1916, 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