Insurtech insurance has generated around $ 20 m after an initial coin offering ( ICO ) that raised 23,809 ether dollars . The two - stage ICO comprised a private pre - sale and public crowdsale , with payment for the latter arriving in just five seconds , according to the Singapore - based firm . PolicyPal plans to use the capital to fund its blockchain - based insurance product ecosystem , PolicyPal insurance , which already counts Aviva , AXA and ins Income among its users .
Insurtech PolicyPal has generated around $20m after an initial coin offering (ICO) that raised 23,809 ether tokens. The two-stage ICO comprised a private pre-sale and public crowdsale, with tokens for the latter selling in just 38 seconds, according to the Singapore-based firm. PolicyPal plans to use the capital to develop its blockchain-based insurance product ecosystem, PolicyPal Network, which already counts Aviva, AXA and NTUC Income among its users.