Mitchell Announces Secure Blockchain Solution for Sharing Information Among Collision Industry Partners
16 January 2018 - 1:10PM
Business Wire
Industry’s blockchain solution would link
insurers, vehicle manufacturers, repairers, suppliers, and other
industry participants
Mitchell International, Inc. (Mitchell), a leading provider of
technology, connectivity and information solutions to
the Property & Casualty (P&C) claims and Collision
Repair industries, will soon release a secure solution for sharing
data among users within the collision repair and insurance claims
industry. Mitchell’s new solution will promote and foster the flow
of collision data among trusted industry partners, using blockchain
technology to provide a highly secure, distributed and advanced
encrypted-data exchange between stakeholders.
“Data security has never been more important than it is today,
and given the large number of existing systems and partner
dependencies, limited efforts have been made to address the risks
associated with estimating information saved in either EMS or BMS
formats and stored in thousands of decentralized locations,”
explained Olivier Baudoux, Vice President of Global Product
Strategy at Mitchell. “Although data have been transmitted over the
network through secure protocols for many years, EMS and BMS
standards have no inherent encryption mechanism to protect
information saved everyday on local computers across the industry.
Blockchain is an ideal solution, one where stakeholders enroll to
become trusted partners and agree to share data through an open and
secure framework. We are working with industry partners, suppliers,
repairers, OEMs and insurance carriers to encourage the adoption of
this technology across our industry.”
Blockchain is a continuously growing list of records,
referred to as blocks, which are linked and secured
using cryptography (source: Wikipedia). By design, blockchains
are inherently resistant to modification. Mitchell is proposing a
collision-centric blockchain community that is a secure yet simple
way to share data among trusted industry partners. The technology
allows for a simplified, open and distributed ledger that is
transparent, verifiable and self-administered by the community. As
a trusted partner, a company will be able to validate and add to
the chain.
“The ideas of a single entity controlling the data and a single
server system being used to ensure security are outdated and do not
fit the distributed environment of vehicle repair and collision
claims,” added Ravi Nemani, Senior Vice President of Product
Delivery at Mitchell. “Blockchain, on the other hand, is a modern
and more robust method for enabling efficient data exchange in a
highly secure environment.”
Mitchell will demonstrate partner integrations and new
technology, including further details of its blockchain
implementation, to attendees of its January 17, 2018 Program
Freedom Experience in Palm Springs, Calif.
Mitchell’s Freedom Experience event will be held at the Palm
Springs Convention Center and is open to Mitchell partners,
customers and others attending the Collision Industry Conference
Annual Meeting. Members of the media are welcome. Please reach Jeff
Monford at jmonford@ppmgcorp.com for registration information.
For further collision repair and property casualty industry
updates and perspectives, follow Mitchell on
Twitter @Mitchell_Intl, @MitchellClaims, @MitchellRepair, @MitchellPBM and LinkedIn.
About Mitchell International
Headquartered in San Diego, California, Mitchell International,
Inc. delivers smart technology solutions that simplify and
accelerate claims handling and repair processes, driving more
accurate, consistent and cost-effective resolutions. Mitchell
integrates deep industry expertise into its workflow solutions,
providing unparalleled access to data, advanced analytics and
decision support tools. Mitchell's comprehensive solution portfolio
and robust SaaS infrastructure connect its customers in ways that
enable tens of millions of electronic transactions to be processed
each month for more than 300 insurance companies, over 30,000
collision repair facilities and countless other Property &
Casualty industry supply partners across the Americas and Europe.
For more information, please visit www.mitchell.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20180116005300/en/
Mitchell International Inc.Rebecca Janzon,
760-500-8077Rebecca.janzon@mitchell.comorThe Pollack PR Marketing
GroupJeff Monford, 212-601-9341jmonford@ppmgcorp.com