B3i, the enterprise blockchain company owned by numerous insurers, processed 30 reinsurance contracts for January renewals. However, this wasn’t a switch over to the new platform. Instead, in a softly-softly approach, the automated placement process ran in parallel or as a recreation.
Nine insurers, four brokerage firms and eight reinsurers were involved in the placement of the Catastrophe Excess of Loss (XoL) reinsurance treaties.
“B3i’s platform shows what’s possible for greatly easing the placement process for all parties involved, and it’s very promising,” said Allianz Re’s Silvio Tschudi.
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