Insureblocks Blockchain & Smart Contracts In Insurance

B3i the blockchain insurance industry initiative In our 2nd episode I had the pleasure of chatting to Greg Crow, Global Head of Architecture at XL Catlin. Greg, is XL Catlin’s representative at B3i which stands for Blockchain Insurance Industry Initiative. For this episode we explore what is B3i, its journey in discovering the potential of blockchain for the insurance industry and we also discussed the choices insurers who haven’t joined B3i can make.   2 minute definition of blockchain The Greg Crow version of blockchain is all about the ability for everyone to see the same data and to have a copy of it in a certifiable and immutable way. Having a copy of that data is a real game changer as are smart contracts. For Greg, smart contracts are here to replace contractual paper documents into code. The code sits on the data on the blockchain and is triggered by a certain set of rules which can mean executing a claims payment or collecting a premium for example.   The blockchain journey What prompted XL Catlin