LISLE, IL., August 3, 2022 — The Association of American Insurance Services (AAIS) and the Linux Foundation welcome Jefferson Braswell as the new executive director of the openIDL project.
“AAIS is excited about the expansion of openIDL into the insurance space and the addition of Jefferson as Executive Director signals even more strength and momentum for the rapidly developing project,” said AAIS Executive Director Ed Kelly. “We are pleased to continue working with the Linux Foundation to help bring meaningful and positive change to the insurance ecosystem.”
“openIDL is a Linux Foundation open governance network and the first of its kind in the insurance industry,” said Daniela Barbosa, Managing Director of Blockchain, Health and Identity at Linux Foundation. “It leverages open source code and community governance for objective transparency and accountability between participants with strong executive leadership helping to frame these kinds of open governance networks. Jeff Braswell’s background and experience in financial standards initiatives and consortia building aligns very well with openIDL’s next period of growth and expansion.”
Braswell has successfully provided cutting-edge business solutions for information-intensive businesses for over 30 years. As a founding director, he recently completed a 6-year term on the Global Legal Entity Identifier Foundation (GLEIF) Board of Directors, where he chaired the Technology, Operations and Standards Committee . He is also Chairman of the Algorithmic Contract Types Unified Standards Foundation (ACTUS), and he has been an active participant in international financial data standardization initiatives.
Previously, as co-founder and president of Berkeley-based Risk Management Technologies (RMT), Braswell designed and led the successful implementation of advanced enterprise-wide risk management solutions integrated with risk management tools. enterprise-wide data management. They have been used by many of the world’s largest financial institutions, including Wells Fargo, Credit Suisse, Chase, PNC, Sumitomo Mitsui Banking Corporation, Mellon, Wachovia, Union Bank and ANZ.
“We appreciate the foundation that AAIS has laid for openIDL, and I look forward to contributing my expertise and knowledge to move this project forward,” Braswell said. “Continuing the work with the Linux Foundation to positively impact insurance services through open source technology is exciting and will surely change the industry for the better moving forward.”
openIDL, an open source distributed ledger platform, infuses efficiency, transparency, and security into regulatory reporting. With openIDL, insurers meet requirements while maintaining the privacy of their data. Regulators have the transparency and information they need, when they need it. Originally developed by AAIS, expressly for its members, openIDL is now developed by the Linux Foundation as an open source ecosystem for the entire insurance industry.
Founded in 1936, AAIS serves the property and casualty insurance industry as the only national, not-for-profit advisory organization governed by its member insurance companies. AAIS offers bespoke advisory solutions including best-in-class policy forms, rating information and data management capabilities for commercial, inland marine, agricultural and agricultural and personal insurers. Its consultative approach, unparalleled customer service and modern technical capabilities underscore a focused commitment to the success of its members. AAIS also serves as the administrator of openIDL, the insurance industry’s regulatory blockchain, providing unbiased governance within existing insurance regulatory frameworks. For more information about AAIS, please visit www.aaisonline.com.
ABOUT THE LINUX FOUNDATION
Founded in 2000, the Linux Foundation and its projects are supported by more than 2,950 members. The Linux Foundation is the world’s leading hub for collaboration on open source software, hardware, standards, and data. Linux Foundation projects are essential to global infrastructure, including Linux, Kubernetes, Node.js, ONAP, Hyperledger, RISC-V, and more. The Linux Foundation’s methodology focuses on leveraging best practices and meeting the needs of contributors, users, and solution providers to create enduring models of open collaboration. For more information, visit https://linuxfoundation.org.
openIDL (open Insurance Data Link) is an open blockchain network that streamlines regulatory reporting and provides new insights to insurers, while improving speed, accuracy and value for regulators. openIDL is the first open blockchain platform that enables the efficient, secure and authorized collection and sharing of statistical data. For more information, please visit www.openidl.org.
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