iXledger is a UK-based startup founded in 2017, which has launched a platform that allows companies embracing blockchain to obtain business insurance quotes based on a risk assessment. The platform represents exposures in metrics to the underwriters, insurers and reinsurers in a way which is relevant to them.
The platform has been launched in partnership with experts at London’s insurance markets and is particularly well suited to protecting blockchain based businesses from risks associated with legal threats, financial exposure, cyber risk and crime.
The platform provides risk assessment for underwriters in order to evaluate company risks. Once the insurance is in place, it publishes a record of the policy on the Ethereum blockchain to assist with automating claims and initiating a database of risk profile that can be retrieved on an ongoing basis
Ultimately, iXledger is notable for its ability to insure those embracing blockchain based use cases, as opposed to offering blockchain solutions itself. It may be somewhat ironic that a technology that is built to offer a secure, distributed and immutable storage of data has created a new market for traditional insurers, but it is nevertheless a market which iXledger is hoping to capitalise on over the next 2-3 years.