My interview with Robin Scott, General Manager of Middle East at AIFT.
- Insurance for digital assets has grown rapidly, with coverage now exceeding $1 billion
- Centralized exchanges and custodians are meeting higher technical standards, making policies viable
- DeFi remains challenging due to frequent hacks, leading to high premiums
- Legacy insurers and reinsurers are warming up to crypto as a diversifier from climate risk exposures
- AI risk is following the same playbook as crypto, starting with cybersecurity and risk management tools
- Smart contracts and AI can streamline the outdated insurance process, reducing paperwork and intermediaries
- The future may bring customers closer to directly covering risks via blockchain-based pools
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