Reinsurance News
blockchain
Oxbridge Re’s SurancePlus partners with Zoniqx on tokenized reinsurance contracts
17th July 2024
Cayman Islands-based reinsurer Oxbridge Re's Web3-focused subsidiary, SurancePlus Inc., has signed a partnership agreement with Zoniqx, a digital asset manager, designed to expand SurancePlus’ footprint as it aims to revolutionise the reinsurance industry by leveraging blockchain technology to tokenize reinsurance contracts. Oxbridge Re and its subsidiaries are engaged in tokenized Real-World ... Read the full article
SecuRisk ensures the availability of reliable data for risk assessment & pricing: WRMS
29th January 2024
In April 2023, Weather Risk Management Services (WRMS), the agriculture and climate risk management firm, launched SecuRisk, a digital-first global parametric insurance marketplace, that aims to address the gaps and challenges in emerging economies regarding insurance coverage. During a recent interview with Reinsurance News, Anuj Kumbhat, Co-Founder & CEO of ... Read the full article
Arbol and The Institutes RiskStream Collaborative announce partnership
2nd May 2023
Global climate risk coverage platform Arbol, and The Institutes RiskStream Collaborative, the insurance industry's largest blockchain consortium, have announced a strategic partnership to transform parametric insurance. According to the announcement, the collaboration aims to leverage blockchain technology to streamline data flow, increase transparency, and enable rapid payouts in parametric insurance and ... Read the full article
Blockchain-powered reinsurer Re backs $34 million in Q1 premiums
26th April 2023
Re, a blockchain-powered reinsurance company, has reported "significant" growth in Q1 2023, backing $34 million in premiums and insuring tens of thousands of small businesses across various industries since its launch in late 2022. The company foresees further growth and opportunities with a strong deal flow pipeline and additional capital influx, ... Read the full article
Lemonade Crypto Climate Coalition protects nearly 7,000 Kenyan farmers
29th March 2023
Nearly 7,000 Kenyan farmers signed up to the Lemonade Crypto Climate Coalition to protect their crops during the most recent short rains season from October 2022 to January 2023. The Lemonade Crypto Climate Coalition is a first-of-its-kind, blockchain based parametric crop protection for subsistence farmers, led by the Lemonade Foundation. Read the full article
Insurtech Otonomi raises $3.4m to build blockchain-powered parametric cargo platform
18th October 2022
Insurtech and parametric cargo insurance platform, Otonomi has announced that it has closed a $3.4 million funding round to build a first-to-market blockchain-powered parametric cargo platform. The funding round was led by ATX Ventures, followed by GSR Ventures, Greenlight Re Innovations, Punja.VC, Altari Ventures, Soundboard Venture Fund, Blackhorn VC, Bering Waters, ... Read the full article
Blockchain-powered reinsurer Re raises $14 million seed round
3rd October 2022
Re, a blockchain-powered reinsurance company, has raised $14 million in seed-round funding to build a decentralised system for investors which will allow them to gain exposure to “a massive and uncorrelated asset class” that is insurance premiums. Tribe Capital, Defy, Exor, Stratos, Framework, Morgan Creek Digital and SiriusPoint participated in the ... Read the full article
B3i conceptually interesting, but required end-to-end view: Swiss Re execs
29th July 2022
Executives at reinsurance giant Swiss Re have said this morning that while conceptually the Blockchain Insurance Industry Initiative (B3i) remains an interesting opportunity, it didn't seem like it was going to be profitable and required an end-to-end view. It was announced yesterday that B3i has filed for insolvency after failing ... Read the full article
B3i fails to raise new capital, enters insolvency
28th July 2022
The Blockchain Insurance Industry Initiative (B3i) has announced that it has filed for insolvency after failing to raise new capital in recent funding rounds. Formed in late 2016, B3i represented a collaboration between various insurers and reinsurers to explore the potential of using Distributed Ledger Technologies (DLT) within the industry. The Initiative ... Read the full article
Munich Re backs smart contract insurance provider
12th July 2022
Chainproof, which plans to offer licensed, institutional-grade insurance coverage for open-source, non-custodial smart contracts, has announced its launch. With reinsurance backing from Munich Re, Chainproof aims to bridge the worlds of traditional insurance and decentralized finance (DeFi). The rapidly growing world of DeFi has over $70B of total value locked, a ... Read the full article
Allianz & Swiss Re place first legally bound Cat XoL reinsurance DLT-contract, enabled by B3i
6th April 2022
Global insurer Allianz and Swiss Re, an international reinsurance company, have successfully placed the world's first legally bound catastrophe excess-of-loss (XoL) reinsurance contract on distributed ledger technology (DLT), enabled by B3i Re's live production network. The industry-led blockchain initiative, B3i, has been developing and enhancing its platform and solutions for some ... Read the full article
Lemonade to use blockchain to deliver “affordable and instantaneous” climate insurance
22nd March 2022
Insurtech firm Lemonade has announced the launch of the Lemonade Crypto Climate Coalition, which will offer climate insurance to the world’s most vulnerable farmers. The climate insurance will be architected as a stable coin-denominated, decentralised application (dApp) on Avalanche – an eco-friendly proof-of-stake blockchain. This will allow farmers to make and ... Read the full article
B3i to deliver DLT reinsurance solution for nuclear pools
8th September 2021
The Blockchain Insurance Industry Initiative (B3i) has been appointed to develop Distributed Ledger Technologies (DLT)-based solutions for the management of inter-pool reinsurance contracts. Six nuclear pools in North-Western Europe, namely France, Germany, Spain, Switzerland, UK and the Nordics (Sweden and Finland) hope to benefit from increased contract certainty, process efficiency and ... Read the full article
B3i partners with Eurapco on blockchain risk transfer solution
26th January 2021
The Blockchain Insurance Industry Initiative (B3i) has partnered with Eurapco, an alliance of eight primarily mutual European insurers, to launch a new risk transfer operational solution developed on blockchain infrastructure. The solution, called Eurapco Unity, will enable the transfer of facultative risks within a network of companies, focusing initially on marine ... Read the full article
Thai Re launches IBM blockchain-powered reinsurance smart contract platform
7th January 2021
Technology-driven professional non-life reinsurer Thai Re has launched a reinsurance smart contract production network using IBM blockchain technology on IBM Cloud. Called 'Insurer Network', it has been established to help allow Thailand’s insurance industry to gain efficiency and speed in processing the reinsurance contracts. Expected benefits include a reduction of forgery risk ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
