Re.xyz – GoDaddy customer – (United States)
.XYZ is home to blockchain-focused developers aimed at solutions designed to reshape industries. Blockchain analytics platform Flooz.xyz aims to humanize crypto. Auditing platform Sherlock.xyz is aimed at keeping your smart contracts bug-free. Crypto wallet security solution Blowfish.xyz aims to help identify and prevent fraud before it happens. In this week’s #BlockchainThursday, we’ll introduce you to a blockchain-powered reinsurer geared towards transforming the global reinsurance market: Re.xyz.
Re.xyz is the online home of Re, a blockchain-powered reinsurer aimed at transforming the global reinsurance market through decentralized technology. Reinsurance, fundamental to the insurance industry, serves as a contract between a reinsurer and an insurer to transfer risk, thus mitigating the financial impact on insurers’ balance sheets. By utilizing blockchain standardization, Re facilitates connections among capital, regulators, insurers, and reinsurers, thereby altering industry operations with the goal of enhancing transparency and trust. With a firm dedication to innovation, Re seeks to bridge the gap between reinsurance and capital, fostering a new generation of stakeholders in the field. By establishing connections among stakeholders, including regulators, insurers, and intermediaries, Re nurtures a dynamic flow of information, reshaping industry practices. On May 14, 2024, Re introduced its tokenized reinsurance fund on the Avalanche blockchain network, receiving a $15 million commitment from Nexus Mutual. This initiative aims to expand access to the $1 trillion reinsurance industry, concentrating on low-volatility insurances like property, trucking, aviation, and workers compensation. 1This development underscores Re’s commitment to enhancing industry efficiency and transparency, aligning with the broader trend of tokenization in financial markets. It was reported on May 15, 2024, that Re secured $7 million in a venture capital round led by Electric Capital, following a $14 million seed funding round completed in late 2022.2
The platform offers a variety of offerings within the blockchain-powered reinsurance realm, facilitated by the innovative Re protocol built upon the Avalanche blockchain. The protocol provides a direct avenue for investors to earn insurance premiums by backing real-world risks across various sectors. These include a wide spectrum of insurance categories including General Liability, Umbrella Liability, Commercial Multi-Peril, Workers Compensation, Personal & Commercial Auto, Professional Liability, Inland Marine, Aviation, Embedded Insurance, Business Owners, and Homeowners. The Re protocol is designed to operate with four core participants: Coverholders (MGAs/Insurers seeking reinsurance), Syndicates (Underwriter and/or first liquidity provider), Members (Senior liquidity providers), and Auditors (governing protocol via staking and acting as gatekeepers to network participation). To participate in the Senior Pool, members are required to provide proof of accredited investor status. With Re’s innovative approach, stakeholders can gain access to a decentralized marketplace that redefines traditional reinsurance practices, emphasizing transparency, efficiency, and risk management.
There are significant advantages of securing a premium domain name like Re.xyz. A premium domain like Re.xyz not only elevates the platform’s visibility but also enhances its accessibility to a wider audience. Its concise and memorable nature simplifies navigation, particularly for mobile users, facilitating easy access to the platform’s services. With a premium domain like Re.xyz, the platform’s mission to revolutionize the global reinsurance market through decentralized technology is encapsulated clearly. As Re continues to grow its reach and influence within the industry, Re.xyz is striving to align itself with innovation and trust in the blockchain-powered reinsurance sector, underscoring their commitment to transparency and efficiency. You can learn more about Re by following them on LinkedIn and X/Twitter, and by visiting Re.xyz.
1.https://www.coindesk.com/business/2024/05/14/rwa-platform-re-debuts-tokenized-reinsurance-fund-on-avalanche-with-15m-commitment-from-nexus-mutual/ 2.https://www.insurancebusinessmag.com/us/news/reinsurance/rwa-platform-launches-tokenized-reinsurance-fund-489282.aspxXYZ is proud to share about the many incredible members that make up the XYZ community! We encourage you to do your own research before using the products and services of the websites we feature. The information about products and services contained in this blog post does not constitute endorsement or recommendation by XYZ.
