fidentiaX, World’s 1st Marketplace for Tradable Insurance Policies powered by blockchain technology
18Singapore-based fintech startup fidentiaX is launching the world’s first marketplace for tradable insurance policies. The company is leveraging blockchain technology to create an easily accessible, transparent and trustless marketplace for tradable life insurance policies.
On the fidentiaX exchange, buyers and sellers of life insurance policies will be able to come together to trade digitalised policies on the blockchain. The digitalisation of the policies will allow them to become easily tradable and liquid securities that can be accessed by all members of the marketplace. This will also decentralize the process of buying and selling insurance policies as policyholders and third-party buyers can transact with one another directly without the need for intermediaries as all policy documents will be fully digitized and pre-checked by fidentiaX before they are listed on our marketplace.
Advantages of Tradable Policies as an Asset Class
Increasingly, individuals and corporates are viewing tradable insurance as an asset class within their investment portfolio due to the following advantages:
The ability to trade existing insurance policies is a Win-Win situation for both parties, Sellers can extract higher cash value from their policies compared to surrendering to the insurer and Buyers secure potentially higher returns compared to similar risk class assets.
Although are no notable published statistics on the size of the tradable insurance market, we can infer the potential market size by the astounding value of surrendered policies annually around the world. For example, one study from the US indicates that more than US$57billion worth of Universal Life and Variable Life Insurance policies are surrendered annually. These policies could have been sold in the open market for higher value. The potential market size for Asia is equally huge with the statistics of surrendered policies in the range of hundreds of billion dollars yearly.
Trading & Airdrop Campaign with coss.io
A pool of 400,000 tokens is up for grabs!
There will be an airdrop of 200 fdX to all coss.io users hodling 5000 or more fdX at the end of the trading campaign (15th May, 2359 Singapore Time)
For more campaign mechanics: https://medium.com/@fidentiaX/trading-airdrop-campaign-with-coss-io-e0f1e24bb2da
“Ask Me Anything” AMA
A Facebook live AMA featuring Alvin Ang (CEO of fidentiaX) will be hosted by Rune Evensen (Co-founder of coss.io) on 23rd of April at 7PM (GMT+8). The video will be shared on fidentiaX facebook page.