B3i is developing an enterprise-ready blockchain solution called Corda to address inefficiencies in the insurance industry. It aims to accelerate insurance accessibility and affordability through increased efficiency. Currently, B3i has over 15 member organizations and completed a prototype. It plans to have the first contracts on its platform by end of 2018. B3i sees opportunities to integrate with other industries and provide improved data, customer experience, and capital allocation. It is building out the Corda network and a user experience to support this vision.

1. ©B3i 2018
A real blockchain solution for a real business problem
CordaCon 2018, September 13
th
2018, London
The Blockchain Insurance Initiative
Sylvain de Crom
Chief Product Officer

2. ©B3i 2018
B3i and Corda

3. ©B3i 20183 Update on B3i development
B3i – A True Industry Collaboration
Oct 16
Founded
Dec 16
Expanded to 15
members
June 17
Prototype
completed
Sep 17
Monte Carlo
launch
Oct 17
Joined by 23
market testers
March18
Incorporation
Sep 18
2nd funding
round
Dec 18
First live
trades

4. ©B3i 2018 © 2017 B3i Market Test Results
B3i – A True Industry Collaboration
Reinsurance
4
P&C insurance

5. ©B3i 20185 Update on B3i development
B3i’s Vision
B3i’s vision is to accelerate the world’s transition to more
relevant, accessible and affordable insurance

6. ©B3i 2018
2016 - B3i Consortium
 Explore the potential of Distributed Ledger Technologies (DLT)
2018 - B3i Services AG
 Develop the B3i contracting prototype to enterprise ready solution
 First contracts on the platform by end of 2018
 Achieve business value for the industry and policy holders
6
Mission and purpose
© 2018 Crom B3i – DLT introduction page 6

7. ©B3i 2018
 Enterprise readiness
 Privacy and confidentiality
 Corda network
 Developer friendliness
7
Why Corda
1
10
9 8
7
4
2
3
5
6
Node connection
Notary data only
Contract data

8. ©B3i 2018
The business problem for the insurance industry

9. ©B3i 201810
Insurance mission versus reality
Mission Reality

10. ©B3i 2018
Reinsurer
Inefficiencies
 Paperwork
 Lack of standards
 Cumbersome Signoffs
Leading to further inefficiencies
 Manual Reconciliations
 Delays
Creating Risk and Costs
 Credit Risk
 Cash flow inefficiencies
11
Insurance Value Chain
Policy
Holders
Insurer

11. ©B3i 2018
# 20 Reinsurers
100m retention
Update on B3i development12
Property Cat XL
# 10,000 houses insured
20 bn sum assured
Insurance Catastrophe
Reinsurance

12. ©B3i 2018
Shared Distributed LedgerTraditional
13
Shared ledger
1
12
2
3
3
2
5
6
6
5
2
1
12
23
3
2
2
5 5
6
6
6
5
6
5

13. ©B3i 2018
Traditional Shared Distributed Ledger
14
Shared ledger
2 2
2
2
2
3 3
3
3
3
4 4
4
4
4

14. ©B3i 2018
B3iDM (based on ACORD IM)
BOCI – API
BOCI
Mom&Pop Ins
Cube Ins Co
BOCI
© 2017 B3i Market Test Results
B3i Open Communication Interface
page 15
Large ReIns Co

15. ©B3i 2018 © 2017 B3i Market Test Results
Interconnectedness
Corporate assets
Captives
Insurance Co
(some times more than 1 layer)
Internal Re insurance Co
(some times more than 1 layer)
External Re insurance Co
(some times more than 1 layer)
Retrocession
Various stages (int and ext)
Internal
External
Legend
© 2018 Crom B3i – DLT introduction

16. ©B3i 2018 © 2017 B3i Market Test Results17
Interconnectedness
0
0
0
0
0
0
0
0
0
1000
10010
30
30
30
10
15
5
10
0
35
15
0
5
20
5
40

17. ©B3i 2018
 Integration with
 Shipping
 Logistics
 Health
 Etc.
 Provide providence
 Improve customer experience
 Improve risk data
 More efficient capital allocation
Corda network

18. ©B3i 2018
 Corda Network
 User Experience
 A solid foundation
19
B3i - 2018
2017prototype2018EMP-MVP(samescale)

19. ©B3i 2018
The B3i ecosystem – Facilitate the network
B3i
DLT
Core
B3i
products
Partner
products
Partner
services
Large
commercial
Reinsurer
Insurer
Private
investor
Broker
Risk
manager
Consumer SME
Financial
institution
…
B3i software products target frictionless transfer of risks
through smart contracts (e.g. Prop Cat XOL)
B3i distributed platform allows Partners to offer smart
insurance contracts and value added services to the B3i
network
B3i infrastructure enables customers to transact on a
trusted and secure shared ledger network
20

20. Thank
you

21. ©B3i 2018
Sylvain de Crom
Biography
22
Sylvain is the Chief Product Officer for B3i and has been instrumental in
designing the initial prototype and ongoing development of the enterprise version
that we aim to take into production and also for the longer term product
development roadmap
Sylvain was previously responsible for the research and development efforts of
Aegon Blue Square Re, Aegon’s in-house reinsurer. He started his professional
career in investment banking
He holds a Masters in Physics from Utrecht University in The Netherlands. His
focus in academia was in computational and statistical physics
Sylvain has published numerous articles on longevity, blockchain and underwriting risk solutions
and is a frequent speaker on the topic and related innovations. He has done extensive research on
longevity risk and geo-concentration risk and was one of the pioneers of stochastic longevity
modelling and structured the first capital market longevity risk hedge