Former Superscript duo launch digital assets insurance broker

A new London-based digital assets insurance broker has officially been launched.

Called Native, the broker aims to bridge the gap between traditional insurance with on-chain capital to address the issue of underinsurance for digital assets businesses.

It will also use cryptocurrencies to match assets with liabilities and give large holders of digital assets exposure to vetted and underwritten companies.

“The fresh on-chain capacity provides opportunities for enhanced balance sheet protection, outside investment and the peace of mind needed for mass adoption,” the broker said.

The firm was founded by ex-Superscript leaders Ben Davis and Dan Ross, who share a combined 17 years of experience in digital assets insurance.

Davis announced he was leaving Superscript in August 2024 to pursue this new venture.

Meanwhile, James Asaad, who currently serves as the Toronto president and vice chairman at Ferrari and Associates Insurance and Financial Services, will join Native as chairman.

Davis, who will serve as chief executive, said: “Ross, Asaad and I strongly believe in a better, decentralised digital future.

”A big obstacle in getting there is the insurance capacity crisis due to the lack of expertise, understanding and data around emerging technologies, but we are doing something about it. We aim to bridge traditional insurance with decentralised cover through our unique blend of technology, industry relationships and crypto expertise.

“Our goal is to become a leading global distributor of covers combining on-chain and off-chain capacity for underserved businesses in emerging industries.”

Funding

The launch comes after Native secured £2m of seed funding from Nexus Mutual. They have also partnered to develop a line of on-chain covers with a $20m (£15.42m) limit.

Native said it would also continue building on its expertise in the traditional insurance market to provide commercial insurance tailored to the digital asset industry.

Hugh Karp, founder of Nexus Mutual, said: ”On behalf of the Nexus Mutual Foundation, we are proud to support the Native team. This partnership unleashes Native’s expertise in crypto underwriting and broking, enabling more businesses to access protection while deploying $20m in crypto-denominated capacity for major risks.

”It also signals the future of insurance, where MGA-like businesses are built entirely on-chain, without legal documents and aligned through incentives. Just as syndicates once formed in coffee houses, the next generation will form on-chain.”

’Our goal is to become a leading global distributor of covers,’ says chief executive