fidentiaX is building the World’s 1st Marketplace for Tradable Insurance by leveraging on Blockchain Technology. Most people do not realize that policies with cash value can be traded in the market for a higher cash value, that is, an individual could sell his policies to a third party instead of surrendering the policy. In 2014, policy lapses and surrenders were in excess of US$112 billion dollars in the US alone, of which it is estimated US$57 billion (250,000 policies) could have been resold in the open market. The minority of policyholders who know they can extract higher value from their policy face challenges in finding interested buyers as there is no recognizable marketplace. Buyers looking to add policies to their investment portfolio are confronted with similar, if not more, barriers to safely executing the purchase.
Our vision is to create a trading marketplace and repository of insurance policies for the masses by leveraging blockchain technology. This blockchain-powered marketplace will provide a trustless, immutable, auditable and transparent environment to disrupt the status quo.