This week, our InsurTech client, iXledger, announced the launch of its new Blockchain Insurance – the first of its kind available to the market. This is a landmark for both the company and those in the Blockchain community and we’re thrilled to have assisted iXledger with all the legal and regulatory aspects of launching their product.
The demand for protection for Entrepreneurs and investors has increased due to the limited regulatory guidance, new technologies, and new funding mechanisms within the Blockchain world. These are all factors that typically make the risks for the technology difficult to underwrite.
iXledger has partnered with a London based broker, operating in the International Speciality Insurance Markets. This partnership, along with its vast knowledge and experience of blockchain, has enabled it to develop the exciting new insurance platform. It wants to make insurance accessible to blockchain companies, and help them to get the necessary insurance as a prerequisite of successful funding.
Nick Pester, Head of InsurTech at Capital, said 'iXledger is an exciting InsurTech business which has built and launched a market-first Insurance product in extremely quick order. It’s been great to support them on the journey and we look forward to strengthening our partnership as they continue to grow.'
UK insurtech firm iXledger has launched a blockchain insurance product in partnership with a London-based broker operating in the international specialty insurance markets. iXledger said the product is a first of its kind available to the market, offering blockchain insurance quotes and the risk assessment score necessary for placement with underwriters. The peer-to-peer platform is an alternative marketplace for insurance, enabling faster transactions and reducing risk through data access and collaboration, the company claims.