SINGAPORE, February 03, 2018 — fidentiaX, the World’s 1st Marketplace for Tradable Policies powered by blockchain technology, together with iXledger, a ground-breaking alternative marketplace for reinsurers, insurers and brokers to trade insurance products directly, are pleased to share the initiatives between the two disruptive marketplaces.
Connectivity between two Marketplace to Disrupt the “Distribution-Chain”
Insurance policies are, in their simplest form, means of transferring risk. Policyholders purchase an insurance policy to transfer a certain form of insurable risk to the insurer, who will then “re-sell” that risk to the reinsurer.
The “distribution-chain” however is not as simple and involves various intermediaries between the policyholder and the insurer, such as Agents (independent, tied/exclusive, insurer-employed and self-employed), Brokers (retail, wholesale, syndicate, etc) and Reinsurers. The involvement of these various intermediaries creates an additional layer of cost supported by the policyholder.
Connecting fidentiaX’s Marketplace directly to iXledger’s Marketplace would allow members of fidentiaX’s Marketplace direct access to iXledger’s Marketplace participants product offerings. With blockchain technology and the connectivity between the two Marketplaces, the potential cost savings on both ends of the spectrum will be significant.
Additional Utility for fdX and IXT tokens within fidentiaX Marketplace
There are numerous advantages of including tradable policies as part of an investment portfolio such as better Risk-Return performance versus similar risk class instrument, inherent capital preservation feature and liquidity.
Both fidentiaX and iXledger believe that this new “asset class” could be a welcoming addition to an individual/corporate portfolio and hence the inclusion of fdX and IXT tokens for the purchase of tradable policies on fidentiaX’s Marketplace.
fidentiaX’s Marketplace will be accepting the following for the purchase of tradable policies on the platform:
– Fiat Currencies (e.g. EUR, USD, GBP, AUD, SGD, etc)
– BTC (Bitcoin)
– ETH (Ethereum)
– fdX (tokens issued by fidentiaX)
– IXT (tokens issued by iXledger)
“Since the announcement of our strategic partnership with iXledger back in November 2017, both teams have been working closely together on solutions to democratize the insurance industry. This is just the first step towards our joint vision of “waking the sleeping giant”. We are very excited about the potential of this partnership.” Alvin Ang, Co-founder of fidentiaX
“By partnering with fidentiaX we are able to add B2C offerings to iXledger which is part of our core strategy. We are very excited to enter the Asian markets together with fidentiaX and with the newly opened iXledger Singapore office, we are well positioned to take advantage of the unique opportunities within this growing market”. Ingemar Svensson, Founder and CEO, iXledger
iXledger is a groundbreaking alternative marketplace for insurance. The blockchain based platform facilitates improved customer service, fuels new efficient business models, drives faster transactions and reduces risk through data access and collaboration.
fidentiaX is a Singapore-based fintech startup that was launched in 2017 to disrupt the insurance market by leveraging blockchain technology to create an active market for tradable life insurance policies. The fidentiaX founding team consists of industry veterans with more than 35 years of experience in the banking and insurance industry.
If you want to find out more about fidentiaX please visit www.fidentiaX.com or contact the company at:
Contact Email: [email protected]
Phone: +65 6908 0071
Introduction Video: https://youtu.be/kUQ1VGwkR_Q
If you want to find out more about iXledger please visit www.iXledger.com or contact the company at:
Contact Email: [email protected]
Location: London, UK
Phone: +44 207 947 9515
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.