Promising But…

Founded in 2016, B3i was originally established to create more efficient and digital end-to-end solutions by developing the necessary infrastructure and platforms. For example, B3i Re understood that today’s reinsurance practice suffers from manual processing and other inefficiencies that slow down the management of contractual agreements, not to mention the integrity of data. That’s why B3i Re set out to transform the industry by enabling the execution of digital reinsurance transactions and eliminating the need for manual processes.

Stopped at a critical time for the wrong reasons…

Well, I don’t have the answer to this question, but the project seems to have been stopped at a critical time for the wrong reasons. For example, a statement by SwissRe says that B3i’s conceptually interesting solutions did not seem to be profitable. In essence, the project was shut down because of a lack of demand that investors would have liked to see.

Blockchain Adoption in Insurance…

Conclusion

It takes just that effort to tackle what are admittedly huge undertakings. And it takes exactly these larger insurance companies in a consortium and joint effort to create end-to-end solutions. Unlike the incumbents, start-ups without centuries of experience and large capital reserves will likely not be able to implement the necessary change.

Leave a Comment

Your email address will not be published.