Dash Invests $250,000 in Brazilian Digital Insurer 88i
- 88i will utilize the Dash network to register and verify claims and transactions in real-time.
- The company will also integrate $DASH as a method of payment.
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According to a Dash press release from 8 June, 88i Segura Digital is the first Brazilian digital insurance company focused on clients and service providers in the mobility, delivery, fintech, and eCommerce industries. The company, which utilizes AI to simplify the insurance process, already has partnerships in place with Brazil’s leading digital companies including Pic Pay, Vá de Taxi, U4Crypto, and Bitfy.
88i will utilize the $250,000 investment to implement Dash’s blockchain technology into its insurance products and integrate $DASH as a method of payment. The company will also expand its infrastructure and improve digital marketing to accelerate the adoption and commercialization of insurance solutions.
This year, the company expects to sell 50,000 insurance policies and reach revenue of around $1.38 million. In 2022, however, the company forecasts more ambitious results, expecting revenues of over $13 million.
Gustavo Fiqueiredo, the CTO at 88i, said that pricing, quoting, and issuing digital policies require the company to be anchored to a great number of technologies, with blockchain being one of them. The technology is able to create trust in a trustless ecosystem and will have a positive impact on the insurance industry.
“Through its extremely fast network, Dash makes it possible to register micro and nano insurance in real-time. Policies can be recorded and easily verified, and claims can be paid very fast,” he explained in the announcement.
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