Alessandro Spadoni & Stephen Houston

B3i Re, Fluidity Platform & NetworkTechnical Deep Dive

So much more than Reinsurance

Overview: So much more than Reinsurance

General Purpose DLT Platform• Consensus protocol• Cryptographic signatures• Immutable records• Single source of truth

R3 CordaDLT Platform

Cross industry DLT network• Network of interoperable business networks

• Node identity, certificate issuance and node discovery• Notarisation

Corda Network

B3i Business Network

Insurance Business Network• Legal entity identity• Membership & Discovery • Network management• Ecosystem of interoperable applications

Fluidity Platform

Insurance Platform• Common insurance services and components

• Common data model• Reuse & Interoperability

B3iREReinsurance Application

Reinsurance Application• Dedicated application for reinsurance admin• Reinsurance specific features only

Fluidity: Platform, Network & Ecosystem

Fluidity is a Platform & Network to enable an Ecosystem supporting the development, distribution, monetisation and operation of interoperable applications across the B3i Business Network.

PlatformAn insurance industry operating system that provides services and components for B3i network operation and rapid development of interoperable applications.

Network Secure B3i Business Network of members with operational services and tools.

Ecosystem Ecosystem of members and 3rd party vendors

providing applications & services for the network.

PlatformNetwork Ecosystem

Fluidity

Fluidity: Platform for interoperability & rapid application delivery

Cross application Interoperability

B3i APPLICATIONS, consumed by any

member

Network Services, Components and SDK consumed by applicationsPLATFORM

Member & 3rd party applications

R3 Corda

Fluidity: Secure Business Network

Private DLT business network within the wider Corda Network to support cross-network interoperability

Onboarding and KYC process ensures that all members are well known and can be trusted

Primary insurers Reinsurers Captive insurers Brokers Regulators BPO partners Loss adjusters Pricing agencies Lawyers

...

Zurich

SwissRE

MunichRE

AllianzBroker

B3i

Fluidity: Ecosystem

Industry & B3i benefits

Faster route to application scale and industry benefits Speed of adoption

Partner benefits

Services and components to rapidly build, distribute and monetise interoperable applications

Mutualised infrastructure services Existing network on which to distribute application without

the need to build their own dedicated network(s) Access to a potentially large marketplace of B3i members

An Ecosystem of partners providing services and applications for the B3i network

Network members Oracle service providers Application providers Integration providers

…

Platform Architecture

B3iRE: Using the Fluidity Platform

Fluidity Foundation

Network Services Components

Fluidity Enterprise

Network Services Components

Risk Transfer Language

Party & Network Membership

Manager

Network Monitor

Node as a Service (NaaS) Node Manager

Network Configurator

Identity Provider

as a Service

Identity Provider

Integration

Technical Accounting

DocumentManager Messenger

ClauseManager

Technical Util & Frameworks

Risk PortfolioManager

B3iRE Reinsurance Application B3i Application Partner Application Partner Application

Components that we build in Fluidity Enterprise will be driven by customer demand, in alignment with company strategy

Partner and customer applications

Fluidity Foundation facilities the capture of opportunities to grow network adoption in H1 2020

Components used by B3iRE

Risk Transfer Language: Enabling Rapid Application Delivery

The RTL provides a class library of common insurance domain objects (data and behavioral model) on which all applications can be rapidly built for interoperability.

Unambiguous Structured Contracts

“Smart Contracts”

Computationally Processible

Risk Transfer Language: Enabling Rapid Application Delivery

Most domain concepts have been factored into common base layers to provide maximum reuse, flexibility and extensibility.

The RTL also covers concepts to support the management and participation in the B3i network.

Risk Transfer Language: Enabling Rapid Application Delivery

The RTL covers a wide range of insurance concepts to enable the structuring of risk, contracts, portfolios, treaties and process workflow orchestration for insurance and reinsurance.

RTL + Smart Contracts + DLT: Single Source of Truth

Check signaturesCheck state chain history

Execute contractSign

Transaction Proposal & Execution

RTL Governing Contract

RTL Reinsurance Contract v1

RTL Reinsurance Agreement v2

Transaction ProposalParticipants & required signatures

Insurer Reinsurer

Build transaction, execute Contract and sign

Transaction Proposal

Code and data is signed

The successful transaction is committed to both vaultsConsensus reached!

Single Source of Truth

Validate

RTL + Smart Contracts + DLT: Single Source of Truth

How do I know my counterparty correctly processed my message?

The DLT platform keeps the physical copies in synch through messaging and consensus.

All nodes are executing the same smart contract logic.

Single Source of Truth - What you see is what I see.

Immutability - Digital signatures ensure that tampering and inconsistency is easily detected.

How can I be sure that my counterparty hasn’t changed his version of the

contract without telling me?

How can I be sure that the invoice is correct?

Why are his numbers different to mine?

RTL + Smart Contracts + DLT: Single Source of Truth

What if there’s a dispute … how can I prove which version of the contract was

agreed? Digital signatures.

Contract uncertainty The eventual goal is to structure and codify all contract clauses and business rules.

IT costs No data translation, no messaging, one common mutual process, one shared application.

Risk Transfer Language: Enabling Interoperability

Reinsurance App

Reinsurance App

Property Retail App

Insurer Reinsurer / Broker

Policies written here are shared with the

Reinsurance App when the risk needs to be

reinsured

Single sources of truth

Resulting reinsurance contract has selected

visibility of the inbound risk

• No traditional integration

• No data translation

• DLT native integration

• Cascading changes between applications

This approach facilitates interoperability across an ecosystem of applications working together across value streams and processes.

e.g. Placement Application interoperating with a common Claims Application.

Network Architecture

B3i Business Network: Overview

Corda Network Operator

Corda Network

- Governed and operated by the Corda Network Foundation

- Onboarding- Discovery

- Notarisation

Business Networks

The Corda Network provides a compatibility zone in which

members of different business networks can discover each other

and interoperate

B3i Business Network: Overview

B3i BNO

Corda Network Operator

Corda Network

- Governed and operated by the Corda Network Foundation

- Onboarding- Discovery

- Notarisation

B3i Business Network

- Governed and operated by B3i- Member onboarding

- Discovery- Network services (e.g. NaaS)

B3i Business Network: Overview

Company A

Company B

Company C

Company D

B3i BNO

Corda Network Operator

Corda Network

- Governed and operated by the Corda Network Foundation

- Onboarding- Discovery

- Notarisation

B3i Business Network

- Governed and operated by B3i- Member onboarding

- Discovery- Network services (e.g. NaaS)

B3i Business Network: Overview

Company A

Company B

Company C

Company D

B3i BNO

Subnet BNO

Corda Network Operator

Corda Network

- Governed and operated by the Corda Network Foundation

- Onboarding- Discovery

- Notarisation

B3i Business Network

- Governed and operated by B3i- Member onboarding

- Discovery- Network services (e.g. NaaS)

Sub Business Network

- Governed and operated by a sub-BNO- Membership- Discovery- Distribution and control of

applications

B3i Business Network: Overview

Company A

Company B

Company C

Company D

Company E

Company F

Company G

B3i BNO

Subnet BNO

Corda Network Operator

Corda Network

- Governed and operated by the Corda Network Foundation

- Onboarding- Discovery

- Notarisation

B3i Business Network

- Governed and operated by B3i- Member onboarding

- Discovery- Network services (e.g. NaaS)

Sub Business Network

- Governed and operated by a sub-BNO- Membership- Discovery- Distribution and control of

applications

Questions & Optional Topics• Security• Integration• DLT 101• Data Flow• ?

B3i Re, Fluidity Platform & Network�Technical Deep DiveSo much more than ReinsuranceOverview: So much more than ReinsuranceFluidity: Platform, Network & EcosystemFluidity: Platform for interoperability & rapid application deliveryFluidity: Secure Business NetworkFluidity: EcosystemPlatform ArchitectureB3iRE: Using the Fluidity PlatformRisk Transfer Language: Enabling Rapid Application DeliveryRisk Transfer Language: Enabling Rapid Application DeliveryRisk Transfer Language: Enabling Rapid Application DeliveryRTL + Smart Contracts + DLT: Single Source of TruthRTL + Smart Contracts + DLT: Single Source of TruthRTL + Smart Contracts + DLT: Single Source of TruthRisk Transfer Language: Enabling InteroperabilityNetwork ArchitectureB3i Business Network: OverviewB3i Business Network: OverviewB3i Business Network: OverviewB3i Business Network: OverviewB3i Business Network: OverviewQuestions & Optional Topics