B3i is creating a better insurance industry by developing standards, protocols and network infrastructure to remove friction in risk transfer. B3i’s shareholders and participants believe that new technologies can give end consumers of insurance better and faster access to insurance.
By acting together, we can optimise and automate market-wide processes, generating significant savings in time and cost that cannot be achieved by insurers or intermediaries acting alone.
B3i Services AG was incorporated in 2018 and is 100% owned by 20 insurance market participants around the world.
Altogether, more than 40 companies are involved in B3i as shareholders, customers, and community members.
B3i Reinsurance (B3i Re) is their first application built on top of the B3i Fluidity platform. The initial version supports the electronic placement and administration of Property Catastrophe Excess of Loss (Cat XoL) treaties, from structuring the submission to negotiating, binding, endorsing and technical accounting. The application has been developed in close collaboration with Brokers, Insurers and Reinsurers to ensure that the product matches all the requirements and brings value to all the stakeholders.