A few years ago, we began to see SaaS companies integrate payment processing into their…
Crypto / Blockchain, Portfolio
We are very excited to announce our participation in Nexus, an Ethereum-based insurance mutual. The concept of a mutual insurance (an insurance company that is owned entirely by its policyholders) is one of the earliest insurance organizations and goes all the way back to England in the late 17th century to cover losses due to […]
A few years ago, we began to see SaaS companies integrate payment processing into their…
People search must account for a significant portion of Google search traffic and it is…
We are very excited to announce our participation in Nexus, an Ethereum-based insurance mutual.
The concept of a mutual insurance (an insurance company that is owned entirely by its policyholders) is one of the earliest insurance organizations and goes all the way back to England in the late 17th century to cover losses due to fire. Over time, capital requirements for insurance companies became quite large and most insurance companies have adopted the model of a “stock insurance company” (an insurance company that is owned by investors who have purchased company stock).
While any profits earned by a mutual insurance company benefit policyholders (either through distributions or reduced future premiums), any profits generated by a stock insurance company are distributed to the investors without necessarily benefiting the policyholders.
Hugh Karp, the founder of Nexus Mutual, believes that blockchain technology in general, and the power of the Ethereum platform in particular, can revive the idea of a mutual insurance and create an alternative risk sharing platform.
Here’s how it works:
We’re participating in Nexus alongside 1confirmation and Blockchain Capital and are excited about being part of bringing insurance back to the people. And if you want to get involved with Nexus, please consider joining their Discord.
Version One
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