Global Crypto Insurance Market Overview:
Crypto insurance, like traditional insurance, enables blockchain and crypto-based businesses to obtain coverage for any issues that may arise. Suits, reputational harm, errors or omissions are all issues that a business may face, and having the right coverage can help mitigate losses. Furthermore, having insurance coverage, regardless of industry, increases customer trust and adds legitimacy to a business. Clients and customers want to know that they are safe. This demonstrates that are a company that values its employees and customers. Crypto insurance companies provide coverage similar to traditional insurance but are aware of the risks taken by blockchain or crypto-backed businesses. Crypto insurance can cover everything from general liability to workers' compensation while taking into account the unique aspects of the cryptocurrency space.
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|Customization Scope||Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility|
- Increasing Cases of Crypto Hacks and Cyber Infiltration
- Surge in Bitcoin’s Value Leads the Demand for Crypto Insurance
- Lack of Awareness in Emerging Economies
- Rising Frauds Activities in the Insurance Plans
- Surge for Decentralized Finance (DeFi) Products Fuels the Growth
- The Increased Adoption of Digital Assets In Develop Regions
- High Competition Among Established Players
- Strict Regulatory Guidelines on the Crypto Insurance Agents
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are KASE Insurance Inc. (Canada), Embroker (United States), Superscript (United Kingdom), CHES Special Risk Inc. (Canada), Boost (United States), Breach Insurance Solutions, Inc. (United Statess), Bybit (China), Metzger Insurance Agency LLC (United States), Nexusmutual (United Kingdom) and Coincover (United States). Additionally, following companies can also be profiled that are part of our coverage like Etherisc (Germany) and Chainlink (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Crypto Insurance market by 2027. Considering Market by Sales Channel, the sub-segment i.e. Insurance Company will boost the Crypto Insurance market. Considering Market by Coverage, the sub-segment i.e. First-Party Coverage (Investigative Services, Business Interruption Coverage And Data Recovery) will boost the Crypto Insurance market.
On 11 MAY 2022, Lloyd’s licensed insurance broker has launched a dedicated crypto product to shore up legal protections for digital asset firms.
What Can be Explored with the Crypto Insurance Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Crypto Insurance Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Crypto Insurance
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Crypto Insurance market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Crypto Insurance market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Crypto Insurance Provider, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. Who are the top performing companies in Crypto Insurance Market?
Top performing companies in the Global Crypto Insurance market are KASE Insurance Inc. (Canada), Embroker (United States), Superscript (United Kingdom), CHES Special Risk Inc. (Canada), Boost (United States), Breach Insurance Solutions, Inc. (United Statess), Bybit (China), Metzger Insurance Agency LLC (United States), Nexusmutual (United Kingdom) and Coincover (United States), to name a few.2. What trending factors would impact Crypto Insurance Market growth most?
"Rise of Digital Platforms for Crypto Insurance" is seen as one of major influencing trends for Crypto Insurance Market during projected period 2021-2027.3. How is Global Crypto Insurance Market forecast is bolstered by Custody Insurance for Crypto
Custody Insurance for Crypto
segment in Global market to hold robust market share owing to "Increasing Cases of Crypto Hacks and Cyber Infiltration