B3i Tech Acquisition Details

Founded in 2016, the Blockchain Insurance Industry Initiative, or B3i, is an alliance of 15 global insurers and reinsurers that is exploring distributed ledger technology (DLT) solutions to improve efficiency in the reinsurance sector. Now incorporated as B3i Services AG, the company is seeking to design and launch ecosystem innovations that will improve DLT adoption for insurance companies, brokers, and other industry service providers.This link :https://www.theinvestorscentre.co.uk/b3i-tech/

The initial product is a DLT-based platform that allows participants to exchange reinsurance contracts and trade collateral through a single interface, reducing friction and eliminating manual reconciliation in post-contract processes. Currently, these are highly complex, with real-time status often not shared simultaneously across all parties, leading to increased risk and inefficiencies. The platform’s first prototype focuses on the handling of catastrophe reinsurance contracts, which are currently largely handled manually and involve extensive, idiosyncratic processes.

Breaking Down the B3i Tech Acquisition Story

But B3i’s vision is larger. It wants to find DLT solutions that reduce friction throughout the entire reinsurance value chain, including policyholders on one end and capital markets on the other, says Mumenthaler. That would require insurers to fully switch their IT systems to digital contracts based on DLT and then trade those contracts in a DLT marketplace.

That is a far-reaching ambition that requires significant technical expertise and substantial investment. It is also not a sure thing that B3i will succeed in its goals. A recent question in GlobalData’s Emerging Technology Trends Survey showed that over 20% of respondents believe blockchain technology is all hype and no substance.