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16 July 2018Insurance

London insurtech iXledger unveils blockchain insurance

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.

“The aim is to make insurance accessible to blockchain companies, and to facilitate the acquisition of insurance as a prerequisite for a successful funding and operation in the same way that smart contract audits are deemed mandatory for investment,” said Ingemar Svensson, CEO of iXledger.

Ciaran Sainty, product director and senior underwriter at iXledger, added: “Our Blockchain Insurance offering evolved from ongoing discussions with brokers and insurers. We recognized the need for the assessment tools and data sets required for underwriters to understand risks and developed our solution.”

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