State Farm and USAA have been investing in blockchain for a few years, with continuous patent filings since 2017 and 2016, respectively. Now, the insurance companies are implementing a blockchain solution for subrogation claims, which determine payment responsibility in at-fault incidents. The process is reportedly fully automated after two years of pilot testing and is the first such platform for these types of claims. Both companies have patents covering blockchain systems for auto insurance as well as life insurance, document  verification (USAA), and vehicle sensor data analysis (State Farm). 

The companies emphasize that a more universal platform would require "full buy-in" and collaboration with other insurance providers. However, State Farm and USAA are the only two major insurance firms with patented blockchain technology according to the Patent Forecast®. Other companies that want to get involved will have to depend on their platform development, which could give the two companies a lot of control as well as potential revenue streams in licensing or software-as-a-service. It's just another example of how patenting early pays off. You can keep up with more developments on the Cryptocurrency Patent Forecast®.