This week Nayms, the blockchain insurance marketplace, was granted regulatory approval in Bermuda. As its brand implies, the concept is inspired by the Lloyds insurance marketplace with an initial focus on providing insurance cover in the cryptocurrency space. In addition, it is launching a second offering, crypto-native captives.
As a regulated insurer, mainstream brokers such as Aon can participate in Nayms’ marketplace based on the Ethereum public blockchain. Hence Aon can do what it’s good at, sourcing and pricing risks. Nayms provides a marketplace to raise the capital needed for insurance contracts.
In most cases, mainstream underwriters might provide capital. But there’s also potential to attract new sources of money, with the peace of mind that knowledgable brokers like Aon are pricing the risk.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
