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Insurtech Partners with Preflogic to Provide Insurance for STOs
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InsuraTech Assurely has just announced a partnership with PrefLogic. The goal will be to ensure, and advance, the security token market.
Risk is one aspect that is often on the mind of investors looking to participate in the security token market. However, insurance programs may soon change this perception. PreLogic has announced it will be integrate’s InsurTech Assurely’s existing insurance policy into their issuances.
PrefLogic is the creator of a security token issuance software designed for both individuals and SMEs. The insurance policy will benefit both the issuer and the investors participating, to ensure that no risk is unaccounted for.
The entire purpose is to bring more investors into the security token space, and to make the entire process easier for issuers. Todd Weir, the founder of PrefLogic, had some positive words for the collaboration:
“We believe an insurance policy that can provide benefit to both the issuer and investor would help to ease doubts surrounding this modern investment instrument,” says Wier. “Security tokens are a powerful instrument that SME’s and individuals can use to gain access to the capital they need. Integrating insurance into the transaction should promote investor confidence and further evolve the space.”
PrefLogic’s existing ‘STO Wizard’ platform is expected to go live later this year with the built-in insurance policy.
Do you think we need more insurance programs for security token issuers and investors? Let us know your thoughts in the comments down below.
Image courtesy of Security Token Network.
Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
