John Carolin has been appointed chief executive officer of B3i Services AG (B3i). Carolin previously served as interim CEO since March 2019 after joining B3i as chief financial officer in March 2018.
Carolin’s work experience spans the risk transfer industry including both insurance and reinsurance, as well as technology and entrepreneurship. He has founded, led, or grown ventures that include a carbon offset platform, a retail property asset manager and a B2B advertising marketplace. He has worked in South Africa, Switzerland and the United Kingdom.
In 2013, Carolin co-founded a web-based media marketplace for print, broadcast and outdoor advertising, called Adchuuza, according to Carolin’s LinkedIn profile.
As interim CEO, Carolin has overseen the delivery of B3i’s first product, a Cat XOL reinsurance placement system built on R3 Corda distributed ledger technology which will be released later this month.
Members of the B3i initiative are aiming to build a risk exchange, based on blockchain technology, that will increase efficiencies in the exchange of data between reinsurance and insurance companies.
Antony Elliott, chairman of the board of B3i, said: “John has a unique blend of experience working with both corporates and start-ups, which the Board of Directors and I believe makes him ideally suited to lead the new B3i. He has demonstrated as interim CEO that he understands both the insurance market and how to deliver a compelling product.”
“B3i will enable material time and cost savings that can only be achieved by working together as an industry rather than alone,” commented Carolin.
“B3i has the extraordinary advantage of being entirely owned by 17 of its customers and having already built a community of more than 40 insurers, reinsurers, brokers, and related companies,” he added.
The appointment is effective June 25, 2019.
B3i is a global initiative supported by 17 major insurance industry investors and more than 40 re/insurance companies. B3i was founded in October 2016 as an insurance industry consortium, which then formed B3i Services as an independent company.
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