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 …
Canada is making a big leap in modernizing identity verification, tapping blockchain technology to let consumers digitally prove who they are to securely access banking and other personal services. SecureKey Technologies Inc.’s Verified.Me digital identity system is now available for …
A blockchain-driven risk and capital exchange for the insurance and reinsurance market is set to be launched in Bermuda later this year by ChainThat. The exchange will allow broker, reinsurance and insurance companies access to the capital markets using blockchain. …
A division of Greenlight Capital Re has invested in a blockchain-related business based in Hong-Kong. The Cayman Islands-headquartered property/casualty specialist reinsurer said it pursued a strategic investment in Galileo Platforms through its Greenlight Re Innovations arm. Greenlight Re did not …
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 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, 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, …
Globalization has brought the most advanced trading networks the world has seen, with the biggest, fastest vessels, robot-operated ports and vast computer databases tracking cargoes. But it all still relies on millions and millions of paper documents. That last throwback …
Marsh announced it is collaborating with IBM, ACORD and its client, ISN, to develop a commercial blockchain solution for proof of insurance. By using blockchain, or distributed ledger technology, Marsh said the certificate of insurance process will be transformed “from …
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 …
