Initiative by 21 companies from the insurance sector (e.g., Aegon, Allianz, Generali, Swiss Re, Zurich) for developing the use of blockchain technologies. Since its launch in 2016, the initiative has grown to 40 participants in 2021, among them also software and consulting companies such as MSG and TCS.
The first application B3i Re involves the mapping of catastrophe loss contracts (known as excess of loss reinsurance or catastrophe excess of losses, Cat XoL) between insurance and reinsurance companies.
A second use case has been announced in the field of claims management. From a technological perspective, B3i’s Fluidity platform is based on Corda.
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