WTW Enters Crypto-Insurance Market with Acquisition of Redefind Platform

Global insurance broker and risk management advisor WTW has announced the acquisition of the crypto-insurance platform Redefind. As part of this deal, a new service for protecting digital assets has been launched. This service covers forensic investigations, asset tracing, and legal recovery costs in cases of theft or loss of cryptocurrencies. This was reported by Cointelegraph.com reports .

The Redefind platform allows individuals and legal entities to purchase insurance for digital assets across various storage methods. According to the company, the system uses cryptographic proof of ownership to verify insured assets. The new product will initially be available in the UK market, with plans to expand to other regions later.

WTW described this acquisition as part of its strategy to expand services for clients working with digital finance, cryptocurrency markets, and tokenized assets. The financial terms of the deal were not disclosed. Redefind founders Richard Daws and Connor Edward will now continue their work within the Willis brokerage business at WTW.

Recently, global insurance companies have shown increasing interest in cryptocurrency-related products. For example, Delaware Life introduced Bitcoin annuities linked to the BlackRock index, while Dubai Insurance launched a wallet allowing customers to pay insurance premiums in cryptocurrency. Additionally, Aon successfully completed trials for payments using USDC and PYUSD stablecoins.

Furthermore, companies like Meanwhile and Tabit are developing insurance and savings products by holding their reserves entirely in Bitcoin assets. Such trends indicate that the traditional finance and insurance sector is becoming increasingly integrated with blockchain technologies and digital assets.