Media Coverage: B3i raises funding, targets commercial blockchain market
Blockchain, or distributed ledger technology creates a secure ledger of information that prevents unauthorized modification, addition or removal of data. It is seen as particularly suitable for insurance contracts which involves several parties.
B3i, which has been incorporated in Switzerland in March this year, is launching its first product, property catastrophe excess of loss product called Property Cat XOL, in January 2019.
“We are currently about to complete a funding round working with existing and new shareholders mainly focusing on re/insurers and brokers,” B3i CEO Paul Meeusen, told Intelligent Insurer at a November 2018 industry event in Amsterdam.
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