Reinsurance blockchain prototype launched
Monday, 09 11 2017, Category: Technology, Country: World
At the Monte Carlo Reinsurance Rendez-vous event a working prototype of a blockchain powered reinsurance transaction platform was launched by the group of fifteen global insurers and reinsurers that make up the B3i (Blockchain Insurance Industry Initiative).
The distributed ledger system built on a blockchain technology was demoed to an audience in Monte Carlo, with a fully functional reinsurance placement platform on display. The prototype features a property catastrophe excess-of-loss reinsurance transaction stored as a smart contract on a private, cryptographically secure blockchain.