Building on Blockchain - The impact of the platform in the (re)insurance industry
A representative market study by Stern Stewart & Co. confirms the significant impact of the B3i blockchain platform on the (re)insurance industry.
The study incorporates 38 global insurance, broker and reinsurance players, which together form B3i, the largest blockchain consortium in the industry. The results reveal a substantial savings potential of $1.1bn admin costs in the entire market based on conservative assumptions. Further, ceded premiums flowing through the platform are estimated to be in the range of $80billion - $140billion, representing a significant market share.
Stern Stewart & Co. conducted the study as independent clearinghouse, bringing together long-standing expertise in (Re)insurance and Digital. The results provide encouraging support for a positive business case as B3i prepares to launch a legal entity.
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