Blockchain Insurance Industry Initiative (B3i) News

B3i’s Blockchain Re/Insurance Network Begins to Offer Real-Life Industry Solutions

The author Douglas Adams once said, “We are stuck with technology when what we really want is just stuff that works.” Many of us can relate, especially with new technology such as distributed ledger technology (DLT), also known as blockchain, …

Blockchain Initiative, B3i, Deploys Cat Excess of Loss Product for January Renewals

B3i announced it has released the latest version of its property catastrophe excess of loss (XoL) reinsurance application in time for the January 2020 renewals. The product enables customers and their counterparties to negotiate terms, agree on rates and complete …

China Pacific Insurance Joins Industry Blockchain Initiative, B3i

China Pacific Insurance Group (CPIC) has become the latest investor in B3i, the insurance and reinsurance industry’s blockchain initiative. CPIC’s membership further strengthens B3i’s representation across the global insurance market, said B3i, which now is supported by 18 major insurance …

Carolin Appointed CEO of Re/Insurance Industry’s Blockchain Initiative, B3i

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 …

Global Insurers Realize Innovation Is Critical for Future Success: A.M. Best Survey

A significant majority of global insurers understand that innovation is increasingly becoming a competitive differentiator in the global marketplace, according to the results of an A.M. Best survey of its rated entities. More than 80 percent of survey respondents said …

Industry Blockchain Initiative B3i Gets Ready to Go Live for January Renewals

The industry’s Blockchain Insurance Industry Initiative (B3i) announced a year ago it had developed a reinsurance blockchain prototype for a property excess-of-loss (XOL) contract and asked the industry to help test it. The initial results are in. Months of testing …

Blockchain Is Tech Evolution That Will Create Re/Insurance Revolution: B3i’s Marke

Blockchain technology is moving out of the lab and into the insurance business. It’s moving past the hype phase and is edging closer to providing real-life efficiency improvements for the industry. It’s been a slow and evolutionary process—one that ultimately …

B3i Chooses R3’s Corda Blockchain Platform for Development of Business Network

B3i, The Blockchain Insurance Industry Initiative, has announced it will build its applications and business network on the Corda blockchain platform, supplied by software firm R3. Following an extensive evaluation, which focused on the critical success factors of data privacy, …

Blockchain Insurance Industry Initiative, B3i, Forms Company Called ‘B3i Services’

The Blockchain Insurance Industry Initiative (B3i) announced the incorporation of B3i Services AG in Zurich, Switzerland. The company was formed by the founders of B3i, which previously operated as a collaborative initiative of 15 global insurers and reinsurers who came …

New Product Uses Blockchain to Show Proof of Insurance

The Institutes’ work with insurers in the blockchain space has led to a debut product – a tool designed to establish proof of auto insurance. Nationwide is the first carrier to bring it to production and is already in testing …