B3i, a blockchain startup owned by some of the world's top insurance firms, raised $16 million last month, Swiss records show.
The RiskBlock Alliance, whose members include insurance giants Chubb, Marsh and Liberty Mutual, has decided to build its blockchain on R3's Corda.
Blockchain insurance consortium B3i announced Monday it would use R3's Corda platform to develop its products.
B3i has become an independent company that will continue to explore and provide blockchain applications for the insurance industry.
The B3i blockchain insurance consortium has added 23 new contributors, bringing its total membership to more than three dozen.
In a CoinDesk exclusive, blockchain insurance consortium B3i outlines how its DLT prototype could ultimately eliminate brokers from the equation.
Insurance consortium B3i is in the middle of a "sprint" to complete a smart contract to help more efficiently protect risky property.