Nayms is a crypto firm that is building the worlds leading and fully-regulated marketplace for on-chain insurance. So far, the firm’s efforts in the industry 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. Through this infrastructure, Nayms is set to achieve a powerful smart risk transfer.
Nayms has recently raised $12 million in a private funding round that concluded at a $80 million market valuation. The financing round was led by UDHC and garnered participation from other investment firms including New Form, Tokentus Investment AG and Keyrock. The proceeds of the new funding round will be utilized to facilitate expansion of the firm’s global team and accelerate the development of of their marketplace for crypto-native insurance. The firm plans to grow to further support its product development, marketing and speed up global expansion.
This funding round has taken place over a prolonged period of time and as of mid-2021, the firms cumulative funding had stagnated at $8.4 million. The public blockchain-based marketplace for insurance policies operated by Nayms, is set to bring on-chain capability to traditional markets. The firm’s operations in the insurance sector are aimed at extending traditional risk markets by using decentralized tools and features that take risk pricing and management to a new level. This is set to create a new, transparent and efficient financial future.
The company is now close to launching its first insurance products backed by Nayms Cells for Aon, Breach and Evertas. Each firm will have its own cell – a segregated account with its own token.
Steven Becker, UDHC’s CEO, has praised Nayms for extending traditional risk markets using blockchain technology. He further stated that Nayms has the potential to shape the future of risk pricing and management with its decentralized tools and features. Though the firm has its initial focus firmly directed towards blockchain-related insurance, the company plans to offer directors and officers liability insurance to crypto firms and its coverage is not limited to blockchain-based policies.
Nayms is poised to deliver a long overdue features that are delivered by design, that is, one digital space for creation of insurance programs, the raising of capital, the writing of risk and the payment rails for premium and claim transactions. This infrastructure is aimed at helping insurance brokers drive the market towards transparency and liquidity as well as insurers by availing the ability of running on-chain balance sheets. Investors on the other hand can invest in insurance as an asset class.
