Insurance is often traded manually and with several layers of intermediaries. These inefficiencies have driven most insurance institutions to look for more streamlined options based on technology.
Working with some of the largest insurers and reinsurers in the world, we are well positioned to create a new, alternative insurance marketplace. There is a great demand for innovative, technology-driven change.
Bringing insurers, reinsures and brokers together results in an efficient, cost-effective and transparent marketplace. By avoiding intermediaries and manual delays we offer a strong alternative marketplace.
The InsureX Platform
InsureX is a marketplace for insurers, reinsurers and brokers to trade insurance products directly.
Our use of blockchain technology streamlines the downstream processes for programs, policies, premiums and claims.
Buy and Sell Insurance
Companies who have insurance products they wish to sell would list them on the market. Companies who wish to buy insurance would use the search or get notified of the listing.
In order to organise your transactions they can be structured as portfolios. High-level, aggregated information for the transactions is available.
When a suitable insurance product is found the participants begin the process of exchanging the required information. Each step is tracked in the platform.
In order to see what is on offer, and gain an understanding of the market, a rich and powerful dashboard gives you a real-time view.
InsureX was founded in London in 2017. The concept came from Ingemar Svensson, whose company Finserve.io was working with various insurance clients who frequently brought up blockchain and the idea of an alternative marketplace.
Shortly after, InsureX engaged a reinsurance company in London who agreed to further explore how this platform could improve security, administration and cost.