Categories: CryptoNews

Insurex Announces Crowdsale for Blockchain-based Marketplace for Insurance Products

13 June, London, UK. Insurance blockchain startup InsureX has announced that it will open its crowd sale on 11 July at 14:00 UTC. InsureX is building the first blockchain-based marketplace to be used for the trade and management of insurance products.

The project hopes to transform a sector that is currently encumbered by the slow bureaucracy of legacy systems. The token sale aims to raise funds for the development and launch of the platform. Contributors in ETH will receive IXT tokens that will enable them to access the platform and to pay for transactions and data on the platform.

Currently, insurance is traded and processed in traditional ways, often manually and with layers of intermediaries. As part of the typical insurance deal, a large amount of documents and data have to be exchanged which in a manual system, introduces cost, delays and errors to the process.

‘Blockchain technology presents an exciting opportunity to disrupt the industry. Preliminary estimates are that gross written premiums generated by insurers contribute 3.5 trillion or 5.7 percent of the global GDP – that is a massive opportunity. At InsureX we want to set a new precedent for the way insurance products are bought and sold through a blockchain-based marketplace that will add greater speed and security to the process’ Ingemar Svensson, CEO, InsureX

Related Post

InsureX will operate as a Software as a Service (SaaS) platform that runs on the Ethereum blockchain. Organisations and individuals joining the platform will benefit from a more streamlined process, access to a wider range of products and lowered commissions. The platform offers a fully electronic and secure exchange allowing for the safe transfer of confidential documents and data such as medical records and financial information.

The company was founded by Ingemar Svensson, former CTO of Risk and Valuation at SunGard Asset Management. He is joined by MIT alumni and early blockchain pioneer Cristina Dolan and Mikael Olofsson, an insurtech expert and entrepreneur. A team of advisors includes Ross Campbell, Chief Underwriter at General Re and Nick Pester, Head of Insurance and Insurtech at Capital Law LLP. With a strong team strategically located in London, the capital of global insurance, InsureX is well positioned to take its alternative insurance platform to market.

The crowdsale opens on the 11 July at 14:00 UTC. Contributors in ETH will be eligible for IXT tokens with bonuses of up to 36% for early birds. For more information visit: www.insurex.co

If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.

Mark Arguinbaev

I'm a 28 year old cryptocurrency entrepreneur. I was introduced to Bitcoin in 2013 and have been involved with it ever since. Fun Fact: I mined cryptocurrency using my college dorm room's free electricity.

Share
Published by
Mark Arguinbaev

Recent Posts

Embr’s Innovative CeDeFi Ecosystem Aims to Provide Long-term Value To Investors

There has been a lot of discussion about decentralization and why it is essential for…

11 hours ago

Top 5 Yield Farming Coins to Watch In 2022

With the recent boom of Metaverse and Meme coins, it seems that Yield Farming projects…

15 hours ago

Shiba Inu Price Up 5%, Gemini Adds SHIB to Its Platform

Shiba Inu price is up 5% today, peaking at $0.00005592 with a low of $0.00005235.…

21 hours ago

5 Metaverse Coins Valued Under $100 Million

With metaverse applications being the next big trend in crypto, there are still a lot…

1 day ago

The Work From Home Revolution Has Arrived

With many employers and employees acknowledging the feasibility of remote work, the possibility of it…

1 day ago

WAX Price Up 44%, Increased User Adoption Signals Growing Interest in the Platform

WAX price is up over 44% today, making it the biggest gainer on Crypto.com. With…

2 days ago

This website uses cookies.