FidentiaX, a Singapore based fintech start up, is in the developmental phase of creating the world’s first market place that leverages on blockchain technology for the transparent, efficient and secured transactions of tradeable insurance policies.


Blockchain tech is fast getting the tag of the slayer across various industries. And you can add another sector that is ripe for disruption, to that list. Tradeable Insurance on the blockchain, yes, this is going to be the next big disruption. Trust is foundational to all businesses and transactions of value, and Blockchain enables entities to seamlessly establish trust and transparency at scale. This is one of the biggest reasons this disruption is going to be epic.

FidentiaX, a Singapore based fintech start up, is in the developmental phase of creating the world’s first market place that leverages on blockchain technology for the transparent, efficient and secured transactions of tradeable insurance policies.

The life insurance industry generates billions of dollars in premiums every year. In 2016 alone, the total market size for premiums in the OECD region (40 reporting countries) was more than US$3.86 trillion dollars. Emerging Asia will be the fastest growing market for life insurance with an estimated real compounded annual growth rate of 10.2%.

FidentiaX will be focusing on building its brand within Asia before executing its global expansion strategy. Key focus countries within Asia are Hong Kong, Japan, Korea, Malaysia and Singapore.

Inefficiencies Within The Space

As an oligopoly, insurers have traditionally been able to benefit from the opacity and byzantine operating standards of the sector. One of the many examples of this is the inability of the insured to monetize their policies.Most people are simply not aware that policies with cash value can be traded in the market for a higher cash value, that is, an individual could sell his or her policies to a third party instead of surrendering the policy. In 2014, policy lapses and surrenders were in excess of US$112 billion dollars in the US alone, of which it is estimated US$57 billion (250,000 policies) could have been resold in the market.

There is another major obstacle within the space that needs mentioning here. The minority policy holders who are aware of deriving higher value form their policies have no obvious platform or marketplace to carry out these trades.

Even in cases where a buyer and seller are able to connect independently, the buyer has to make the payment up front without having the 100% security of knowing the policy would be transferred to his or her name. This issue of trusting a third party (agents) obviously leads to no such deals maturing.

The disruption of the industry is also necessary on the after-service fulfilment aspects such as outdated record of beneficiaries, late premium payments and void claims to name a few.

In Comes The Disruptor, FidentiaX

FidentiaX’s blockchain powered marketplace will provide a trustless, immutable, auditable and transparent environment to disrupt the status quo. FidentiaX Open Source Foundation (FOSF) will be setup with the mission of proliferating the adaptation of blockchain technology in the Insurance Industry.

FidentiaX’s “Policy Ledger” a digital ledger, will eliminate the dependence on intermediaries (agents) by providing the following functions:

  • Consolidate and manage the insurance policies on a distributed ledger and in the process creating an immutable record of the same on the blockchain.
  • Premium payment alerts.
  • Policy coverage details (summary)
  • Multi signatory access for beneficiaries or trustees on mortality event.

FidentiaX’sblockchain powered marketplace will let the buyers and sellers seamlessly trade policies. The velocity of such trades will increase on this platform since the buyer would be able to search for policies based on key criteria such as tenure, yield at maturity, amount, etc. And to take it a notch higher, the platform will enable the buyers to provide custodian services and hold the policy in a trust structure.

ICO Details

Start Date: The Crowd Token Contribution starts on 6 November 2017

End Date: The Crowd Token Contribution will end on 5 December 2017 or when the hard cap of 100,000,000 tokens is met.

Price of fdX tokens: 1 ETH = 500 fdX, Early birds who buy during the first 5 days of the sale will enjoy up to 10% bonus.

Whitelist: Interested parties should register their interest and complete the KYC process.

What Blockchain is FidentiaX built on: fidentiaX’s platform will be based on a customized version of NXT blockchain. The platform will use 3 different types of token: Initial Token Offering (fdX on the EthereumBlockchain), Currency Representation Tokens (eBTC, eETH, eUSD, eEUR, eSGD, eJPY, eKRW, eMYR, etc) and Platform Unified Tokens (ISX). Please refer to the White Paper for more details.

When will the tokens be distributed: Tokens will be distributed 3 weeks after the close of the Crowd Token Contribution.

What will the funds raised during crowd sale be used for: Funds collected from the Crowd Token Contribution will be transferred to a Trust (managed by a Law firm as Trustee) with a clear mandate on the utilization of the monies towards building the world’s first marketplace for tradable insurance policies and proliferation of blockchain technology for the insurance industry.

Lock Up Period: The Founders’ Tokens will be progressively unlocked over 3 years from the end of the Crowd Token Contribution.

Official Social channels: You can join the conversation about fidentiaX at:

Website: www.fidentiax.com


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