Great news, we have obtained our Appointed Representative status and FCA regulatory approval which will allow us to operate on a completely different level.
This puts us in a very unique position amongst insurtech companies.
We have always believed that due to the regulatory focused environment of insurance it is a need to move towards being regulated, to give our clients confidence in our products and operations.
We are still waiting for a few commercial and operational arrangements to be completed on our insurance broker’s side, which is outside our control.
Both parties are extremely keen on going live so the “soft launch” is going ahead with real end users (policy holders) being put through the system.
We are optimistic and hope that we will be able to launch operations officially over the next few weeks.
The team at unisonSteadfast Conference
One of the key topics of the conference explored the future of the insurance broker in the digital era and how blockchain technologies will reinvent the industry.
Muriel Mercier, Head of Business Organisation, unisonStedfast introduced iXledger to the members as their technology partner where we would be benefiting the network by developing more efficient network management, communications and knowledge sharing.
Ingemar Svensson, Founder and CEO and Andrew Hodgett, Senior Broker and Product Director of iXledger spoke on Wednesday, June 13th.
In their presentation they demonstrated how blockchain based solutions that iXledger is developing will change the processes within the insurance industry and the benefits of using cryptocurrency.
Cyber Risk Summit Conference in Philadelphia
Cristina participated on a blockchain panel, moderated by Neeraj Sahni, SVP Cyber at Willis Towers Watson. Other panelists included Meghan Hannes VP Cyber, Axis Capital; Stephen Palley and Scott Diamond.
Cyber is predicted to be over $1 trillion over the next five years and is growing faster in the US than in any other part of the world.
The 2016 Cyber insurance market brought in $3.5 Billion in premiums globally, and $3B were brought in from the US. Growth in premiums is 30%. New Regulatory Pressures increasing the need for coverage. Cyber Insurance Risk is complex, data intensive and there are many facets.