Paul Meeusen on the Blockchain Insurance Industry Initiative

The Director of Finance Global Business Solutions, Swiss Re gave an update on the Blockchain Insurance Industry Initiative (B3i) at the Blockchain conference: How insurers are building up trust by breaking down barriers at the Swiss Re Centre for Global Dialogue.

Click here for more information about the event.

Read a text version of the interview here:

"The Blockchain Insurance Industry Initiative (B3i) is a group of companies that came together to exchange ideas and see how we can make use of blockchain to better our clients and our industry. It started about a half year ago and we're now about to start together the development of a first prototype or proof of concept. Results we expect in about a half a year from now.

We joined the B3i initiative as one of the founding members, not to be part of the hype, rather because we realized there was a fascinating correlation between things we struggle with in our industry, mainly the way we exchange data with our clients, and what this technology may be able to do. Therefore, we quickly realized, we better do this together. It doesn't make much sense to do a mutual distributed ledger on your own. We also realized we need to establish standards of how we exchange data with each other. That really has been very efficient to do that in that consortium."