Blockchain insurance company BlockRe has launched a risk assessment tool for blockchain systems and crypto assets.
According to BlockRe, which claims to be “the first crypto asset insurance company”, it has created “one of the few actuarial models” in the world built on crypto loss event data.
BlockRe said it has tracked known loss events and captured multiple data points for each, to validate its underwriting framework. The actuarial analysis can be used to support pricing of insurance for crypto assets.
BlockRe added that it plans to release a subset of its data and analysis on its website in the coming weeks, which will include a listing of loss events to date.
It hopes this initiative will promote greater transparency and understanding of risk in the crypto asset space.
BlockRe president Raymond Zenkich said: “We are excited to see the insurance market responding positively to the underwriting infrastructure we have put in place.”
The blockchain insurer is promising to announce further developments at the World Economic Forum’s Annual Meeting in Davos, 22-25 January.
BlockRe has been operating for 15 months and closed a pre-seed round of funding in May 2018 backed by VentureOne, RenGen, Plug ’n Play, and Vy Capital.