Ethereum 

Gemini Launches Crypto Insurance Company with $200 Million Coverage

New York-based crypto-asset exchange Gemini has announced an increase in insurance coverage of its custody platform. The cryptocurrency exchange has increased its custody limit to $200 million. This is the largest cold storage insurance limit for any exchange globally. Gemini Launches Insurance Company This move indicates that Gemini Custody expects the demand for its services to increase. Considering the new coverage and the exchange’s reservation for accredited investors, it seems to now want to target large crypto holders in the future. The company is positioning itself to serve high-end crypto…

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Blockchain 

Crypto Insurance Market to Get Boost in Coming Years

Around a decade ago, something called crypto insurance would have drawn puzzlement from everyone. The creation of crypto exchanges made it possible for millions of people all over the world to buy crypto tokens with ease. Key Analysis However, the creation of exchanges also drew the attention of hackers, who have, over the years, made away with billions of dollars worth of cryptocurrencies. It is something that has dogged crypto exchanges for many years, and it seems that some of the world’s biggest insurers have finally come up with a…

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Blockchain 

Tech Mahindra Introduces Blockchain Solution for Finance and Insurance

Indian conglomerate Mahindra Group’s IT subsidiary, Tech Mahindra, has partnered with American tech company Adjoint. The company is set to launch blockchain use in insurance services and finance management solution. Blockchain Solution for Financial and Insurance Services On Monday, CommMEA reported that the solution, which is the first of its kind, will be a game-changer. Using the service will save clients up to $4 million for every $1 billion of financial management and banking relationships. Using blockchain in the insurance and finance sector will ensure that clients receive a seamless…

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Blockchain 

State Farm | Testing Blockchain Technology for Auto Insurance Claims

US automotive and life insurance group State Farm is now testing blockchain technology to potentially speed up auto claims. The company announced the new pilot for its blockchain-based subrogation platform on its website yesterday. State Farm Testing Blockchain Technology According to the company’s website, the company processes just over 38,000 claims per day and has 519,000 accounts in mutual funds. “Today, subrogation is a relatively manual, time-consuming process often requiring physical checks to be mailed on a claim-by-claim basis between insurers,” said Mike Fields, innovation executive of State Farm. “You can imagine…

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