Who we are
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.
The organisation was incepted in 2016 and is currently formed of 15 members from across the globe. As an industry initiative, all the members have equal rights and obligations in terms of financial contribution, resources and decision making.
We are focused solely on developing and testing technical developments aimed at better serving customers and enhancing transaction efficiency, thus promoting competition.
Our vision and mission
The vision for B3i is simple – it is about less admin and more insurance. This is grounded in improving risk data management and reducing processing time and administration effort.
Our mission is to:
- Improve the way data, claims, capital, payments are disclosed, used, automated and managed
- Focus on value adding client service, risk prevention and risk management
- Make insurance risks more tradeable
- Make insurance more affordable with an improved client experience
Ultimately, we seek to improve the efficiency of transacting insurance and reinsurance across the whole value chain and thereby reduce value lost through delays and manual reconciliations.