Reinsurance platform B3i Services has announced it has entered into a partnership with blockchain specialists Ritablock to launch the first live partner application on the B3i Fluidity platform.
The partnership will enable B3i customers to make use of Ritablock’s technology within the B3i Reinsurance solution or as a stand-alone CorDapp to integrate with established Reinsurance accounting systems, leveraging the value and benefits of B3i’s distributed ledger platform.
B3i’s Fluidity platform, which has been developed by a consortium of 20 reinsurance entities, is designed to facilitate and accelerate the development and deployment of partner applications, interoperable within B3i’s distributed ecosystem. This gives partners access to the B3i network while providing B3i’s customers with the latest technology to increase the efficiency of their business networks and transactions.
John Carolin, B3i CEO, explained: “We are delighted to announce this partnership with Ritablock, as we continue to extend and enrich our ecosystem to cover the full insurance value chain. This is yet another example of how B3i is enabling market-wide transformation through innovation relevant to our customers.
“Ritablock’s partner application will give our customers the ability to seamlessly integrate their existing off-ledger Reinsurance systems with a DLT-native ecosystem. This provides our customers with access to a wider network of their peers, the ability to transfer data securely, using a common language, and a more efficient way of doing business.”
“Partnering with Ritablock is a great fit, as their application leverages the technology of our platform, B3i Fluidity and provides Ritablock access to the B3i network,” he added. “We look forward to working with partners to accelerate the deployment of end-user functionality to our growing network, benefitting customers, partners and B3i alike.”