One startups trash is another startup's treasure. R3's Corda has scored another big win in the insurance sector by signign on the RiskBlock consortium, and continuing to take former business away from HyperLedger's Fabric. Initial use cases include proofs of insurance, more efficient forms of data sharing during claims, subrogation, blockchain based net settlement, and parametric insurance.
B3i, founded by insurance giants Allianz, Aegon and Swiss Re, and supported by AIG and AIA, gave similar reasons as RiskBlock in explaining its switch from Hyperledger Fabric to Corda. "After re-evaluating our criteria around data privacy, developer productivity and interoperability we concluded that Corda is a perfect fit for our insurance use cases and also for our future strategy for an insurance business network," Markus Tradt, CTO at B3i, told CoinDesk. Tradt said B3i's vision goes far beyond single-purpose blockchain deployments for a specific use case and that his consortium is working with partners and third parties for application developments.