OneDegree announces three-year partnership with Munich Re

Together they will launch OneInfinity, a digital asset insurance product.

Hong Kong virtual insurer OneDegree is partnering with international reinsurer Munich Re to launch OneInfinity, a digital asset insurance product.

Under the three-year partnership, Munich Re will provide reinsurance capacity and support OneDegree’s technical underwriting. The partners also commit to building modeling capabilities based on OneDegree’s unique CeFi and DeFi incident database to support future product innovation.

OneInfinity is an insurance and technology product offering designed specifically for digital asset trading platforms, custodians, asset managers, and technology providers. OneInfinity bundles OneDegree insurance with Cymetrics’ solutions. Cymetrics helps companies examine cyber, blockchain, and digital asset risks from the perspective of hackers and insiders in a more agile and flexible way. Cymetrics is a separate product offered by a sister company of OneDegree.

Alvin Kwock, Co-Founder of OneDegree said they are delighted to work with Munich Re on this insurance product.

“Digital asset insurance is set to be the gold standard serving the Web3 community. Regulated insurance coverage is a strong signaling effect that supports the trust and credibility of the insured entities. OneDegree is privileged to be Asia’s first insurer to contribute to the secure and compliant development of Web3,” Kwock said.

You may also like:

No man left behind: How insurtech is solving the underinsurance mess

Quarantine insurance revived amidst rising COVID-19 cases in China

Japanese non-life insurers suspends contracts for firms operating in Russia