John Carolin has been appointed chief executive officer of B3i Services AG, an insurance industry blockchain initiative.
Mr. Carolin has served as interim chief executive officer since March 2019 after joining B3i as chief financial officer in March 2018.
Mr. Carolin's work experience spans the risk transfer industry including both insurance and reinsurance, as well as technology and entrepreneurship. He has founded, led, or grown 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 United Kingdom.
In a statement, the company said that as interim chief executive officer, Mr. Carolin has overseen the delivery of B3i's first product, a Cat XOL reinsurance placement system built on R3 Corda distributed ledger technology that will be released later this month.
Going forward, the company said, Mr. Carolin will lead B3i as it matures into a customer-centric software development company that partners with and serves the global insurance industry, its brokers, and its customers.
Antony Elliott, B3i's board chairperson, 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.”
Mr. 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 continued, “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.”
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].