Black Insurance

Black Insurance offers a decentralized insurance protocol that provides insurance brokers and managing general agents (MGAs) with capital—using the Black Syndicate Token (BST)—to help them underwrite insurance products. Black effectively replaces traditional insurers who typically provide underwriting capacity to its agents with a blockchain-based marketplace for insurance capacity. Black’s on-chain platform helps local MGAs, brokers, and agents to design, price, and sell insurance policies, along with the ability to handle claims. Agents can also use another token, the Black Platform Token (BPT) to transfer insurance risk. As of December 2021, Black Insurance has 63 insurance brokers who collectively had annual revenues of over EUR 1 billion.

Black Insurance’s last funding round was in January 2020, where it raised USD 1.2 million.