B3i

The Blockchain Insurance Industry Initiative (B3i) is a collaboration of insurers and reinsurers formed to explore the potential of using Distributed Ledger Technologies within the industry for the benefit of all stakeholders in the value chain. B3i's community of shareholders and network participants exceeds 404 reinsurance and insurance companies.

The organisation was launched in 2016 by 15 members from across the globe, which include Achmea, Aegon, Ageas, Allianz, Generali, HannoverRe, Liberty Mutual, Munich Re, SCOR, Swiss Re, Tokio Marine, XL Catlin and Zurich Insurance Group. Initially formed under a Memorandum of Understanding, in which the 15 founding members shared costs and resources, the group transitioned into a legal entity domiciled in Zurich in March 2018.

They are focused solely on developing and testing technical developments aimed at better serving customers and enhancing transaction efficiency, thus promoting competition.

In 2019 it was announced B3i had secured new investment from Mapfre Re, Deutsche Rück and VIG Re. 

In February 2020, B3i revealed that around 30 reinsurance contracts have been concluded on its platform by major reinsurers and brokers, including Generali and Allianz.