The Institutes RiskStream Collaborative Launches RAPID X With Leading Auto Insurers

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MALVERN, Pa.--(BUSINESS WIRE)--Feb 12, 2026--

The Institutes RiskStream Collaborative today announced the production launch of RAPID X, a blockchain-powered auto claims data exchange platform that enables insurance carriers to instantly share critical accident information — dramatically reducing claim costs while accelerating customer support. Leading U.S. auto insurers have become the first to go live with the system as early implementation partners.

RAPID X solves a costly industry problem: when drivers insured by different companies collide, each insurer typically learns about injuries and complications days or weeks after the crash. By the time claims are reported, costs can escalate dramatically. RAPID X changes that by enabling insurers to transmit secure, permissioned claims information to one another immediately after a loss—alerting both carriers within hours of an accident and creating critical opportunities for proactive customer assistance before legal complications arise.

The platform represents the first successful deployment of blockchain technology for live claims data exchange in the U.S. insurance industry. When broadly adopted, RiskStream projects RAPID X could deliver millions of dollars in industry-wide savings annually by shortening claim cycles, reducing duplicate outreach, cutting third-party vendor costs, and expediting time to claim resolution.

“This production launch represents the culmination of seven years of dedicated work by The Institutes and RiskStream Collaborative, and we’re proud to be first to successfully bring blockchain-based data exchange to life in insurance,” said Pat Schmid, President of RiskStream Collaborative. “While others in various industries have attempted blockchain solutions without success, we’ve worked alongside leading national auto insurers to deliver a system that’s live and delivering value today. These early implementation partners are demonstrating that even competitors can pioneer new ways of working together when it ultimately benefits customers and creates a more responsive claims environment.”

RAPID X accelerates time to first notice of loss (FNOL) by an average of seven days. The platform’s blockchain architecture ensures data sharing remains secure and privacy-compliant, with carriers only receiving information about claims directly involving their own policyholders.

While early participating insurers gain immediate benefits from their collaboration, RAPID X’s full potential emerges as more carriers join the network. RiskStream’s analysis indicates that once carriers representing 25%–30% of the personal auto insurance market participate, industry-wide adoption will accelerate rapidly. RiskStream is actively working with additional carriers to expand the data-sharing platform, offering early adopter incentives and demonstrating clear ROI.

About The Institutes RiskStream Collaborative

The Institutes RiskStream Collaborative ® aims to create an ecosystem within the risk management and insurance industry that leverages emerging technology platforms to design/build (or leverage existing) solutions that aim to streamline the flow and verification of data in multiparty business processes. RiskStream’s goals as a blockchain and emerging technology consortium are to help industry participants lower operating costs, drive efficiency from improved processes, and enhance the customer experience.

About The Institutes

The Institutes® are a not-for-profit comprised of diverse affiliates that educate, elevate, and connect people in the essential disciplines of risk management and insurance. Through products and services offered by The Institutes 20 affiliated business units and backed by more than 115 years of experience as a trusted knowledge partner, we empower people and organizations to help those in need with a focus on understanding, predicting, and preventing losses to create a more resilient world. Learn more at Global.TheInstitutes.org.

The Institutes is a registered trademark of The Institutes. All rights reserved.

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CONTACT: Jim Walsh

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KEYWORD: PENNSYLVANIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT BLOCKCHAIN TECHNOLOGY INSURANCE SOFTWARE INTERNET

SOURCE: The Institutes RiskStream Collaborative

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PUB: 02/12/2026 10:00 AM/DISC: 02/12/2026 10:00 AM

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