LONDON, UK – 8 June 2023 – Nayms, the leading blockchain-based insurance marketplace, is thrilled to announce the launch of its first fully capitalised insurance program on the Nayms Marketplace. This achievement demonstrates Nayms’ commitment to revolutionising the insurance industry by leveraging smart contracts on the Ethereum network and providing secure, efficient, and fully transparent insurance solutions.
The Nayms Marketplace introduces a paradigm shift in the insurance landscape by bringing together insurers, insureds, capital providers, brokers, and underwriters in an on-chain ecosystem – from capitalising balance sheets to paying premiums and claims. This on-chain approach revolutionises the insurance industry by encouraging an alternative source of capital via the rapid growth of the cryptocurrency market. By leveraging its marketplace and blockchain technology, combined with focus on generating yield, Nayms enables insurers to access additional capacity for underwriting risks. This expanded capacity empowers insurers to offer more comprehensive coverage, meet growing demand, and address emerging risks effectively.
The launch of Nayms’ Marketplace on the Ethereum network represents a significant milestone in the company’s journey. Additionally, Nayms is thrilled to disclose the successful raising of $500,000 USDC in its first segregated account, with targeted annual returns averaging around 15%.
“Building something simple is complicated. It requires a solution that is highly comprehensive to seem sleek, streamlined, and intuitive. Nayms has now officially gone from 0 to 1 with the launch of our first insurance program, and we can’t wait to showcase all the other opportunities to the market as they go live. We have now introduced insurance as an asset class to the digital asset space. Onwards!,” said Dan Roberts, CEO and Co-Founder of Nayms.
Building upon the success of the first fully capitalised insurance program, Nayms is excited to unveil a range of new investment opportunities for participants in the (re)insurance market. These opportunities allow investors to diversify their portfolios, access untapped markets, and benefit from the growth potential of the evolving insurance landscape with potential returns as follows:
- Industry Loss Warranty Reinsurance at a 15-20% return
- Excess Cyber Liability Insurance at a 10-15% return
- Smart Contract and Bridging Insurance at a 12-15% return
- Smart Contract Hack Captive Insurance at a 12-14% return
Nayms invites interested individuals to explore these investment opportunities and get in touch for more information.
As Nayms continues to expand its marketplace and attract new participants, it remains committed to fostering collaboration, trust, and innovation within the reinsurance industry. Nayms isn’t new technology for old companies – it’s new technology for the insurance participants of the future, who deserve the back-end infrastructure capable of conducting truly digital insurance with the market, for the benefit of coverholders.
Nayms, the world’s leading, fully-regulated marketplace for on-chain insurance. Through their work so far with the industry, they are paving the way in providing a new digital asset risk market that allows regulated brokers and underwriters to find digital asset capital providers to share in the premium and liability entailed in covering digital asset risk. Nayms’ traceable smart contract is built on a trustless system, meaning insurance brokers can place a contract between market participants in a limitless number of areas and share in the future value of such open trade.