Introducing Blockchain Insurance
iXledger announced the launch of Blockchain Insurance – insurance for blockchain companies.
Here’s How it Works: a blockchain company (1) signs up – and iXledger creates an Ethereum account to which the company has to deposit 1000 IXT, (2) completes a risk assessment (~15 minutes), (3) submits application, (4) waits, (5) receives quotes (potentially), (6) pays for its insurance to have a record published onto the Ethereum blockchain. The record will show the insured name, company registration number, insurance products, inception date and policy status.
The product is launched “in partnership with a market leading London based broker operating in the International Specialty Insurance Markets.”
Bottom Line: an insurance application that requires a whitepaper submission. Will a light paper do? #KYC.
