Fintech News
Data Republic website

Insurtech start-up InsurePal launches ICO, partners with Mattereum

Peer-to-peer insurtech start-up InsurePal has launched an ICO with the aim to collect GBP 15 million to fund its UK motor offer in 2018. In the meantime, the company signed a letter of intent to collaborate with Mattereum, smart contracts start-up. 

InsurePal is a Lichtenstein-based decentralized peer-to-peer insurance platform based on the Ethereum blockchain and uses an innovative social proof model. The ICO will close on the 18th of January, and the funds raised will be used to fuel the launch of the start-up’s automotive offer in the UK. If the operation is a success, the start-up projects to apply this scheme to other forms of insurance, such as life, property or casualty.

Co-founder and CEO Matt Peterman commented: “Insurance is a  USD 7.3 trillion stubbornly old fashioned Goliath that could significantly reduce premium prices if its model could allow it to operate with lower risk clients.”

Also recently, InsurePal announced its partnership with smart contract start-up Mattereum. The combination of the two solutions will facilitate blockchain-based insurance; InsurePal will provide its social-proof insurance model that, together with Mattereum’s dispute resolution infrastructure, will form a complete insurance solution.

By Jean Leguy, Research Coordinator at Holland FinTech]]>

Share this Article
Related Insights
Holland Fintech Digital Transformation Paper 2024
Holland Fintech is proud to present the Digital Transformation Paper 2024. This whitepaper, led by the Holland Fintech working group Digital Transformation in collaboration with Accenture, provides valuable insights into the dynamics and key factors influencing successful collaborations between fintechs and incumbents.
Holland Fintech Pavilion at Money 20/20
Money 20/20 – Join our Pavilion! The Holland Fintech Pavilion offers a unique opportunity to connect with a global audience of fintech professionals. Located at the heart of Money 20/20, the pavilion provides a central hub for networking, collaboration, and exposure.
Amsterdam Fintech Week
Amsterdam FinTech Week is back on 2-4 October 2024! Be a sponsor, co-organizer, or just participate in our community events.

How likely are you to recommend Holland FinTech?