Highlights
- Assurely and AXA XL provide insurance for officers of Security Token Offering companies and their investors
- Assurely’s co-founder Ty Sagalow was also Chief Insurance Officer at SoftBank-backed insurtech Lemonade. AXA XL is also one of Lemonade’s reinsurers
- Part of due diligence relies on STO platform doing some vetting
- Due diligence is automated
A week ago we wrote about New York startup Assurely offering CrowdProtector insurance for crowdfunding and security token offerings (STO) in collaboration with AXA XL. We had some questions given it’s providing coverage to investors who will get their investment returned if there’s misrepresentation from the issuer or they misuse or steal funds. So what’s the due diligence process? Having attended Hanson Wade blockchain conferences targeted at insurers, we’ve seen how risk averse the insurers are when it comes to blockchain. So how did Assurely get AXA XL on board?
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