Blockchain insurance initiative B3i confirms John Carolin as CEO

B3i Services, the blockchain insurance industry initiative, has appointed John Carolin as its chief executive officer (CEO).

Carolin previously served as interim CEO since March 2019 after joining B3i as chief financial officer in March 2018.

As interim CEO, Carolin has overseen the delivery of B3i’s first product, a Cat XOL reinsurance placement system built on R3 Corda distributed ledger technology, which is expected to be released later in July.

His experience spans the risk transfer industry including both insurance and reinsurance, as well as technology and entrepreneurship. He has founded and led ventures that include a carbon offset platform, a retail property asset manager and a B2B advertising marketplace. He has worked in South Africa, Switzerland and the UK.

Antony Elliott, chairman of the board of B3i, said: “John has a unique blend of experience working with both corporates and start-ups, which the Board of Directors and I believe makes him ideally suited to lead the new B3i. He has demonstrated as interim CEO that he understands both the insurance market and how to deliver a compelling product.”

Carolin said: “B3i will enable material time and cost savings that can only be achieved by working together as an industry rather than alone. B3i has the extraordinary advantage of being entirely owned by 17 of its customers and having already built a community of more than 40 insurers, reinsurers, brokers, and related companies.”

He added: “I look forward to leading the B3i team as we execute on a bold vision to enable better insurance through frictionless risk transfer. Our team of subject matter experts is highly motivated, especially following the very positive feedback received last month at our Hackathon to test the initial product.”

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