Insurance platform Etherisc moves into Crypto Valley
Etherisc, the blockchain startup specializing in building a decentralized insurance platform, is entering into a close partnership with Zug-based Lakeside Partners and inacta and moving its headquarters from Germany to the so-called Crypto Valley.
Etherisc is handing over part of its activities, the development of the decentralized insurance platform, to the newly established Decentralized Insurance Foundation based in Zug.
Last fall, Etherisc made big waves with a new type of flight delay insurance. The insurance, developed on the Ethereum Blockchain, was launched just at the time of the world's largest blockchain congress DevCon2 in Shanghai and was used by over 1000 international visitors. This insurance, which is fully automated with smart contracts, has since been further developed in a targeted manner.
The cooperation with the Zug-based companies Lakeside Partners and inacta opens up a wide range of growth opportunities for the startup: As an early stage investor with a focus on blockchain technologies, Lakeside Partners is the ideal partner with broad experience in the startup environment of central Switzerland.
Blockchain knowledge transfer
On the other hand, the consulting firm inacta provides their IT expertise in information management and blockchain applications. Thanks to its extensive network in the Swiss insurance industry, inacta can connect InsurTech startups such as Etherisc with established insurance companies and thus promote joint innovations.
This is one of the important pillars of inacta's corporate strategy, which aims to bring together established companies and start-ups for innovative cooperation models in the future.
Crop failure insurance
Etherisc has also developed a concept for crop failure insurance for agriculture that works according to the same principles: Risk calculation, premium payment and claims handling are automated and transparent. This not only reduces operational costs.
The customer experience is also massively improved and the insurance conditions are demonstrably fair for the consumer. Thanks to the open platform, these decentralized apps - DApps for short - can be easily adapted to different needs and integrated into other applications.
The perfect blend of experience, entrepreneurship and innovation guarantees the continuation of a new digital era - and all this in the heart of Switzerland, the Crypto Valley.
