That optimistic projection stems from the constructive efficiency of OneDiploma’s pet and digital-asset insurance coverage operations. The firm’s flagship pet insurance coverage business, which was launched in April 2020, has “reached scale” and develop into worthwhile, Kwock instructed the South China Morning Post.
He mentioned the agency’s enterprise-facing digital-asset insurance coverage service, OneInfinity, has lately develop into worthwhile after signing up greater than 30 shoppers, with out receiving any claims to this point.
It already accounts for 10 per cent of OneDiploma’s income, based on Kwock. He mentioned the agency expects that determine to swell to 30 per cent within the fourth quarter this 12 months.
Global curiosity in Hong Kong’s crypto change licensing regime has been robust, based on Kwock. He indicated that just about half of the world’s top-20 crypto exchanges have contacted OneDiploma about its OneInfinity insurance coverage.
Online insurer OneDiploma raises US$27 million to broaden digital property protection
Online insurer OneDiploma raises US$27 million to broaden digital property protection
Hong Kong’s new regulatory regime for centralised crypto exchanges, in impact since June this 12 months, places in place a broad vary of exacting necessities for these enterprises to function within the metropolis. One of the necessary necessities is for crypto exchanges to have insurance coverage or compensation preparations that might cowl potential losses.
The agency has to this point solely accepted 25 per cent of all insurance coverage purposes over the previous two years, based on Kwock.
Hong Kong digital insurer OneDiploma widens cryptocurrency protection to NFTs
Hong Kong digital insurer OneDiploma widens cryptocurrency protection to NFTs
OneDiploma has carried out 5 rounds of fundraising to this point. In June, the corporate raised US$27 million from buyers that embody Gobi Partners, Sun Hung Kai and Bitrock to finance the enlargement of its digital-asset insurance coverage portfolio.
On potential plans to go public, Kwock mentioned OneDiploma’s present focus is on attaining profitability, after which it might contemplate an preliminary public providing or different capital market initiatives.
