MALVERN, PA — RAPID X, the auto claims data exchange platform developed by The Institutes RiskStream Collaborative, has been named to PropertyCasualty360’s 2025 Insurance Luminaries in the category of Claims Innovation. The annual program honors standout initiatives that are reshaping the property and casualty insurance sector with forward-thinking strategies and technologies.
The recognition highlights RAPID X’s use of blockchain technology to address a long-standing friction point in insurance—data exchange following multiparty auto accidents. By enabling secure, real-time information sharing between insurers, RAPID X reduces administrative burdens, accelerates claims resolution, and improves the customer experience.
The solution is part of a growing push to modernize core insurance functions through collaborative technologies. In a sector often criticized for its legacy infrastructure, RAPID X signals a shift toward operational agility and shared digital ecosystems.
Patrick Schmid, President of The Institutes RiskStream Collaborative, called the award “an honor,” and said the platform represents how “trusted claims data sharing” can improve both insurer workflows and policyholder outcomes. He emphasized that continuous innovation and collaboration are essential for strengthening the broader insurance landscape.
RAPID X was evaluated alongside other nominees based on measurable impact, innovation in claims handling, commitment to ethical standards, and service excellence. A panel of industry experts selected the 2025 honorees, noting their role in modernizing and humanizing the P&C insurance space.
Elana Ashanti Jefferson, Editor-in-Chief at PropertyCasualty360, praised this year’s honorees for “powering forward with fresh ideas and modern tools” to help the industry navigate today’s increasingly complex business conditions.
RAPID X’s inclusion in the Insurance Luminaries Class of 2025 underscores its growing influence as insurers seek smarter, faster ways to manage claims. As technology continues to transform the sector, RiskStream’s blockchain-powered initiative may serve as a model for scalable innovation in an industry ripe for change.
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