USAA, State Farm Join to Run Blockchain Solution Pilot

USAA, State Farm Join to Run Blockchain Solution Pilot

A collaboration made between Insurance companies State Farm and USAA on a project to pilot blockchain technology to enhance the speed of auto claims subrogation process. Innovation Executive of State Farm, Mike Fields explain, “In 2018 alone, the total amount of dollars demanded and issued through the subrogation process was over $9.6 billion for all insurance carriers. You can imagine the time and resources required to complete these transactions.”

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