Insurance-focused blockchain company, B3i Services AG, has officially got a new chief executive officer.
Having served as interim CEO since March, John Carolin has now been appointed the role for the longterm. The company boasts 40 clients from re/insurance and is aiming to create a standardised, cheaper model to share data and transfer policies between industry-players using a distributed ledger.
Carolin joined the company in March 2018 as Chief Financial Officer and in recent months has been overseeing work on the company’s flagship product - the XOL reinsurance platform. The system is built on R3's Corda blockchain and will be launched at the end of this month following testing, focused on the reinsurance space: "the practice whereby insurers transfer portions of their risk portfolios to other parties."
“I look forward to leading the B3i team as we execute on a bold vision to enable better insurance through frictionless risk transfer,” said Carolin.