We are pleased to announce the next step on our journey, we call it Beyond.Insure!
In 2017, the Insurex project started an old fashioned ICO where people could buy IXT tokens using Ether. Insurex needed investment to continue the development of its insurance platform.
The ICO went really well and raised 33k Ether. The company was off to a great start and grew its organisation in London, Singapore and the US whilst trying numerous commercial initiatives to get a break in the insurance market.
As the crypto markets deteriorated, the company had to start downsizing and halt some of its initiatives. Headquartered in the UK, Brexit also caused uncertainty which contributed to the decision to relocate operations elsewhere.
In late 2019, IXT was approached by new backers, Byelex (byelex.com), who offered to support the continued efforts on their securitized token platform. We were very happy and excited to accept their help, to keep the venture going. Its founder and CEO Herman Vissia, joins Beyond.Insure as a co-founder.
A new company has been incorporated in the Netherlands called Beyond.Insure BV. It will take on the intellectual property and assets of IXT Ltd in Gibraltar, which will wind up.
The objective of Beyond.Insure is to target the 27 million small to medium sized companies in the EU with commercial insurance, giving them a new and improved insurance experience. It will provide an ecosystem for insurance providers to join and take advantage of data and services.
As part of the rebirth, we will seek additional funding by offering equity in the new company. The equity will be tokenized with Beyond.Insure Tokens (BIT) and current IXT holders will be offered a discounted swap between IXT and BIT.
The launch of the token swap is the 23 March 2020. We will offer an opportunity for private sales and institutional investors ahead of this.
For more information, visit https://beyond.insure