Initially formed as a consortium in 2016 by major global insurers and reinsurers like Allianz, Munich Re, Swiss Re, and Zurich, B3i (Blockchain Insurance Industry Initiative) was incorporated as B3i Services AG in 2018. The company's mission was to build and provide a shared DLT platform, built on R3's Corda, to increase efficiency, transparency, and security in the insurance sector. It developed applications for processes like reinsurance contract placement (e.g., Catastrophe Excess of Loss) but ultimately failed to gain sufficient commercial traction and market adoption. The company ceased operations and went into liquidation in July 2022.

Founded in

Switzerland