Nayms: Pioneering Innovations in the Insurance Industry
It was an exciting International Tech Summit week for the team with Nayms as CEO Dan Roberts, COO David Verbeeten and General Counsel Matt Wixon all joined Head of Business Development Adam Adamson in Bermuda to launch several exciting initiatives.
In the first key announcement, Nayms has joined forces with Penrose Partners, a renowned financial services firm, to propel Nayms’ insurance marketplace. This strategic collaboration aims to accelerate Nayms’ growth trajectory and enhance its position within the insurance ecosystem. Penrose will work closely with Nayms to provide an infusion of fresh sources of crypto capital to a variety of partners and expand the Nayms footprint across multiple jurisdictions. This long-term partnership promises exciting developments as Nayms gears up for the NAYM token launch.
The second exciting collaboration which was announces was Nayms collaborating with global exchange and BMA regulated Coinbase, to launch on-chain tooling for seamless insurance transactions. By utilizing Coinbase Prime, Base, and Coinbase Web3 wallet, Nayms empowers insurance companies, reinsurance funds, and capital providers. The collaboration ensures institutional-grade security, efficient capital flow, and streamlined policy management. Traditional insurers now have fresh opportunities to navigate the dynamic crypto insurance market with confidence.
Nayms also announced a new collaboration with NEAR Foundation to grow smart contract and bridging insurance availability. This exciting partnership will see NEAR providing capital to the Nayms marketplace to back a sophisticated suite of smart contract and bridging insurance products for the space. These products will provide needed cover to an ecosystem that increasingly has smart contracts as the primary execution vehicle of several processes.
Finally, Nayms announced a successful collaboration with Mountain Protocol, the first regulated yield-bearing stablecoin issuer in Bermuda. Together, they created an Industry Loss Warranty (ILW) backed by Mountain Protocol stablecoin USDM. This ILW addresses critical capacity needs in the insurance market, providing a unique opportunity for investors and capital providers.
The highlight of the week was a joint panel discussion featuring representatives from Penrose Partners, Nayms, Coinbase and leading insurance broker Howden Re. The panel presented a new capital and tooling solution to a packed room of over 15 Bermuda insurers. Through the combined expertise of the parties, a new way to access capital was presented to the audience opening doors for exciting opportunities to grow that capital base that supports the robust reinsurance ecosystem in Bermuda.
Stay tuned for further announcements and the execution of new policies. To learn more about Nayms, reach out to Adam Adamson at adam@nayms.com or find him on Telegram (@ATAdamson).
