Blockchain Insurance Start-Up SafeShare Launches First Blockchain Insurance Solution with Vrumi

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Vrumi, the Airbnb of shared workspace  have partnered with SafeShare Global, a Blockchain-fueled insurance startup focused to rollout the first fully integrated insurance product to give home owners solid insurance,  underwritten by Lloyd’s of London.

The insurance product employs Blockchain technology created by Z/Yen Group to confirm counter-party obligations which facilitates the delivery of a flexible and a responsive product to customers at a reasonable price.

In an interview at Business Comparison, Roddy Campbell, Vrumi’s co-founder notes:

“Insurance is the biggest practical problem we face, not that it is insoluble but the insurance industry is not set up for us so it will take time to develop a suite of products we can provide to Hosts who cannot get appropriate cover through their existing insurers. (My house insurer provides liability cover to anyone I invite in, but restricts theft and damage).”

The new service will give  hosts the opportunity to ‘opt in’ to cover, giving comfort without breaking the bank and with a 24-hour claim service hotline, this insurance will help increase confidence in generating extra income for UK home owners. The underlying replicated authoritative immutable ledger ensures a trusted record of insured parties is maintained.

Alex Steinart, SafeShare Global Co-Founder states:

“Insurance for the sharing economy needs to be flexible and responsive to customer needs. Our distributed ledger approach, developed by Z/Yen Group, offers the opportunity to coordinate the provision of products between counter-parties in near real-time and to radically cut the cost of this coordination.”

Professor Michael Mainelli, Executive Chairman of Z/Yen, continues:

“Z/Yen’s woven broadcast technology delivers SafeShare’s insurance solution an undisputable record of the insured through a distributed network of proof. Built on MetroGnomo, encrypted copies of the distributed ledger are held by all parties, such as the States of Alderney who are providing oversight of MetroGnomo’s integrity.”

Richard Kastelein

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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