The new play: the insurance giant AXA insurance products launched covering STO

Editor’s note: This article from the author: Ana Alexandre Cointelegraph, the translator, the daily planet cool tea

Editor: Lu Xiaoming

 The new play: the insurance giant AXA insurance products launched covering STO

According to Cointelegraph reported in March 15th, the insurance giant AXA (AXA XL) and insurance technology start-up company Assurely jointly launched a new insurance products covering CrowdProtector, raise public equity and STO products.

AXA XL is the second largest insurance company in Europe, but also provide risk management services to the global insurance and reinsurance company. According to reports, the company’s net profit for the year 2018 21.4 billion euros ($24.2 billion), compared with the same period last year fell 66%. At the same time, the company’s 2018 3% earnings growth, dividend growth of 6% per share, 1.34 euros ($1.52).

The name for the new product CrowdProtector for issuers and investors, allegedly can protect the public to raise equity and other new STO online fund-raising mode. The product is designed to increase trust, confidence and security of potential investors, to ensure that the issuer is trustworthy. Assurely CEO Ty Sagalow, said the two sides have increased subscription business, and publish:

CrowdProtector issuer provides for the protection of investors’ complaints and litigation, but also told investors: if the issuer misuse of funds, deliberately distorting information in the documentation, or misappropriation of funds, they may recover the principal investment.

At the end of the press release pointed out that until recently, qualified investors are allowed to invest in Private Companies (more than $1 million in net assets or income of more than $200 thousand), which makes a lot of potential investors to launch AXA and Assurely this insurance products to wait.

In early 2015, AXA XL announced the use of bitcoin remittance transaction plan to simplify the global payment. At that time, the company said, many practical scenarios associated with bitcoin has not yet been explored.

In October 2018, AXA launched blockchain aviation insurance, can automatically compensate passengers of flight delays.

AXA record customer insurance products in the etheric Fang buy, through the use of smart contracts on the chain block to trigger automatic payment. Fang also contracts with global Ethernet intelligent air traffic database connected to continuously monitor the flight data. When the flight is delayed more than 2 hours, the compensation mechanism will automatically execute, sent directly to the insured “credit card” account, independent of the AXA decision.

AXA is not the only one to explore the encryption of the insurance products company, according to Cointelegraph reported in February of this year, the blockchain security company and encrypted wallet service company BitGo announced plans by the London the Lloyd insurance company (Lloyd’s of London) encryption provides insurance services. Allegedly, BitGo WALLET business customers will be able to buy insurance for their digital assets held in BitGo business services and hosting services in the wallet.

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