Insurance ledger · Chain ID 1117710
One shared, tamper-evident record for insurance.
PolicyBlockchain records policies, entities and money movement once, has independent validators agree on it, and lets anyone entitled to see a record check it for themselves.
- Latest block
- 262,083
- Validators online
- 4 / 4
- Since last block
- 1 s
- Block time
- 2 s
What it is
A ledger for the three things insurance has to get right.
PolicyBlockchain is a permissioned network run by IEC. PolicyBlockchain runs two chains: Settlement, which is live, and InsureBio, which is being built. The ledger holds fingerprints and pointers. The underlying insurance records stay with the parties entitled to them.
Policies
Bind, endorse, cancel and renew, each recorded with a fingerprint of its terms, so what was agreed can be shown later.
Entities
Agents, agencies, MGAs and carriers each hold a permanent chain address, their iecHash, with appointments and licence checks attached.
Money movement
Premium collected, commission paid and trust account activity, recorded in a way an examiner can follow end to end.
Why insurance needs it
Insurance runs on shared facts that nobody shares.
The same facts, copied by hand
Who is covered, what happened, who paid, who owes: re-keyed into a dozen systems, each a little more stale than the last.
Terms get disputed, histories get lost
Endorsement histories go missing, claims records sit in silos, and audit trails have gaps exactly where they are needed.
Regulators wait for reports that already exist
The data is somewhere. Getting it means asking each party and trusting what comes back.
Capital prices on numbers nobody can check
Without an independent record, every figure is only as good as the last spreadsheet it passed through.
The fix is to report once, to one place, and let everyone entitled to see a record read it from there. Writing is free and open to any system of record. Reading never leaves: apps come to the data, not the other way round.
How it works
Report once. Record. Agree. Verify.
Septor, the platform's hash-chained audit log, is how systems write. Validators run the chain that agrees on the result. Anyone with access can check a record against it.
01 · Report
Systems of record
Agency, rating, claims and payment systems report an event once.
02 · Record
Septor
A hash-chained event log. Each event links to the one before it, so a change anywhere breaks the chain.
03 · Agree
PolicyBlockchain
Independent validators run QBFT consensus. A committed block is final: no reorganisations.
04 · Verify
Explorer and verifiers
Members, partners and regulators check a record against the chain instead of trusting a database.
Validators and consensus
The settlement chain runs on Hyperledger Besu with QBFT consensus. A fixed, known set of validators takes turns proposing blocks and votes on each one. A block is final once it is committed. There is no mining, no staking, and no reorganisation to wait out.
QBFT tolerates f faulty or offline validators out of 3f + 1. Four validators is the smallest network that survives one failure, which also makes upgrades and backups possible without stopping the chain.
Septor anchoring
Septor already links every event to the one before it. The design anchors those chains, and the InsureBio chain, to the settlement chain with periodic Merkle roots, so a record can be verified against a root that no single party controls, without trusting anyone's database.
Two chains
The InsureBio chain: the records book.
PolicyBlockchain runs two chains: Settlement and InsureBio. Settlement is the money book. The InsureBio chain, chain 1140615, is the records book, and it is being built. It is not live yet.
What it holds
Identities (Bio-ID and each entity's iecHash), entities, policies, binds, appointments and data-access grants. The who, what and who-may-see.
Who validates
Five partners: IEC, IBC (BindDesk), InsureCap, Paragon and Santee. They vouch for records without holding the keys to the money.
Who keeps a read-only copy
Tennessee, the regulator, and Lloyd's Lab each run a full node. They hold a complete copy and verify it independently, with no signing duties.
Every so often the InsureBio chain stamps a fingerprint of its recent blocks into the settlement chain, so anyone can prove a record existed, unchanged, as of a given moment. Jurisdiction, such as Tennessee, is a tag on the records, not a separate chain. Only fingerprints and pointers go on either chain. The records themselves stay in the InsureBio registry, and access is granted party by party.
Look up an InsureBio entity →The InsureBio chain in the whitepaper →
The Tawa Reserve
Balances that can be checked against the bank, every day.
The settlement chain holds the Tawa Reserve: the reserve bank account plus a daily signed check. Every Tawa is minted only against a Tawa Reserve deposit, so nothing is created without a settled deposit behind it, and a daily signed check keeps it honest. The contracts are built and tested and are not yet deployed.
01
Deposit settles
A deposit is recorded on the chain only when the bank transfer has settled, once per settlement ID.
02
Mint against it
A contract creates balances only against a recorded, unused deposit.
03
Daily attestation
A checker signs the bank balance against what is owed. The result is on the chain.
04
Gate
If the check is missing, stale or failing, creation pauses on its own.
Validators
IEC runs the settlement chain. Partners validate the InsureBio chain.
The settlement chain, chain 1117710, is live on IEC's own validators. The InsureBio chain, chain 1140615, is being built, with a planned validator set of five parties. Each partner takes over its own node when it is ready, and that timing is the partner's decision.
IEC
InsurEco Ecosystem. Manages PolicyBlockchain and its settlement chain.
IBC · BindDesk
Internet Blockchain Center. Strategic validator partner.
InsureCap
Captive manager.
Paragon
Program and MGA.
Santee
Program and MGA.
Look something up
Check an entity against the chain.
Enter an iecHash to see an entity's profile, its recorded events, and whether its hash chain verifies.