Announcement: New Partnership to develop Crypto Insurance Products
Policydock has signed a strategic agreement with Merkle Science and Blackpanda. All parties have been working over the last half year alongside a top tier law firm in designing and developing a whitel-label cryptocurrency hot wallet insurance product that will allow crypto related businesses to offer this product to their clients or retail clients to buy directly.
“When people get hacked or scammed from their crypto, they don’t know what to do. This product will not only help to provide the full analytics of where their crypto is, but the services to recover their crypto, which in the past has only been offered to major exchanges.” said Roger Ying, CEO of PolicyDock. “Given the high transaction volume and hyper-connected nature of this product working with multiple partners, the technology we’ve developed at PolicyDock fits perfectly.”
“Blackpanda has been at the forefront of ransomware response, cybersecurity, and coordinating with global law enforcement in bringing hackers and scammers to justice. We’re excited by the prospects of this product in helping businesses and consumers mitigate fraud risk in their crypto transactions,” said David Suzuki, Managing Director, Risk & Investigations, Blackpanda.
“It is exciting to co-create with our partner to use our technology as building blocks for new innovative products to service the crypto space and make crypto safer. Today, we are pleased to say that our analytics tools are already being used by top law firms, governments and law enforcement agencies,“ said Tom Luo, head of Asia at MerkleScience.
About PolicyDock Technologies
PolicyDock Technologies is a global insurance technology leader delivering best-in-class insurance innovation while providing today’s industry with the most seamless digital onramp possible. We help the insurance industry prepare for a modern digital world faster than anyone else.
PolicyDock’s no-code product configurator that builds a white-label, API-first policy administration platform for any type of insurance product, simple to complex, is used by MGA’s and insurance carriers around the world for its modularity and customizability.
About Merkle Science
Founded in 2018, Merkle Science is the next-generation predictive cryptocurrency risk and intelligence platform that helps crypto companies, DeFi participants, financial institutions, and government agencies detect, investigate, and prevent illegal activities involving cryptocurrencies. The core team comes from Paypal, Forter, Luno, Bank of America, FBI, and the US DOJ.
Merkle Science's proprietary Behavioral Rule Engine enables our tools to go beyond blacklists so that compliance teams may fulfill their local KYC and AML obligations and industry players may keep pace with increasingly complex illicit activities.
BLACKPANDA is Asia’s premier cyber security incident response group, hyper-focused on digital forensics and cyber crisis response. Our team consists of an elite cadre of risk and security experts from International military special forces, intelligence, forensics, and law enforcement backgrounds. We are highly trained, ready to respond to and help manage crises on short notice, when and wherever needed.
With locations across the Asia-Pacific region,, Blackpanda's Incident Response operations address many of the most pressing issues in the cyber threat landscape: ransomware, business email compromise, fraud, malicious insiders, espionage and more.