“Our mission is to become the world’s leading, digital insurance marketplace.”
The scale of technological innovation taking place right now never fails to amaze me, as individuals drive the creation of systems that minimise reliance on central authorities and intermediaries, thereby reducing opportunities for corruption and bias.
Technological advancements like blockchain enable transparent, decentralised networks where transactions and interactions are immutable and verifiable by all participants. This fosters an environment of trust and accountability, and by continually pushing the boundaries of what is possible, such innovation lays the groundwork for a more just and equitable society.
On today’s livestream we welcome someone who, alongside his team of experts, is bringing the kind of utility to the digital asset arena that Web3 has been crying out for.
Dan Roberts is an award-winning entrepreneur, business leader and tech founder, whose journey through the startup world has led him to discover and harness the transformative power of blockchain technology.
Dan has spent much of the last decade steering startups across a wide array of industries including consumer, digital outdoor media, smart cities and healthcare, the last of which was his introduction into the world of blockchain.
In 2019, Dan co-founded Nayms, the world’s first crypto-compatible insurance marketplace, aimed at tackling one of the biggest issues in the Web3 space today – access to insurance on the blockchain. His mission is to create a bridge between the capital markets and over one trillion dollars of uninsured tokenied real-world assets.
Nayms stands out by utilising traceable smart contracts built on a trustless system, creating a flexible digital infrastructure for insurance companies to build a digital version of themselves on-chain. Dan believes that reinsurance could become one of the biggest use cases for early institutional adoption of digital assets.
The genesis of Nayms is as fascinating as its goals. During his research with Insurtech Gateway, one of their lead investors, Dan explored scaling insurance capacity for digital asset risk. The space was valued at $150 billion and largely uninsured at the time – a situation that persists today.
The hypothesis was clear: as the digital asset space grows, traditional insurance capacity would struggle to scale accordingly. This insight led to the birth of Nayms.
Nayms is on a mission to become the world’s leading digital insurance marketplace. It acts as a marketplace for crypto-native insurance and a bridge between alternative capital and uninsured risk in the digital assets space.
As a fully-regulated marketplace for on-chain insurance, Nayms is pioneering a new digital asset risk market, allowing regulated brokers and underwriters to find digital asset capital providers to share in the premium and liability of covering digital asset risk.
Dan explains that Nayms leverages Web3 technology to merge the transfer of value and information within one environment. This provides flexible digital infrastructure for insurance players to build digital carriers, utilising smart contracts to act as on-chain balance sheets.
This will allow insurance managers to raise funds, track ownership over individual investors, and write risk against that balance sheet within a legal and regulatory framework suitable for this new technology.
Dan envisions Nayms as replicating the Lloyd’s of London model but using blockchain technology. By creating an on-chain balance sheet, insurance companies can raise funds, write risk, and manage the legal and regulatory aspects of risk transfer, effectively digitising their operations.
Nayms’ traceable smart contracts and decentralised nature promote innovation and prevent monopolies. This ensures that no single entity can dominate, fostering a competitive and innovative environment in the Web3 space.
The NAYM token complements their core offering by encouraging correct behaviour and aligning incentives among marketplace participants. The Nayms Liquidity Facility (NLF) supports insurance programs across the marketplace, ensuring liquidity to capital providers and generating returns from marketplace risk.
By pledging capital into smart contracts, investors can generate yields while maintaining ownership over their pledged capital. This approach democratises access to insurance as an asset class, allowing token holders to engage in the global insurance market alongside traditional and institutional participants.
This is an important step in the realm of digital assets as we move another step closer to replicating those core instruments on the blockchain. For his part, Dan is a smart individual who has achieved so much so early in what is sure to be a hugely successful career. What Dan is building at Nayms is critical infrastructure that will hugely impact the way we conduct business while also offering protection for tokenised real world assets.
“What we have built in our team as a foundation to the Nayms mission is a problem-solving machine. And the problems are everywhere. It is this problem-solving fabric to Nayms that will see us survive and thrive in the years to come.”
