Client Network Expands to Over 350 Users Across the Credit Insurance Ecosystem
Following strong results in 2020, LiquidX’s insurance business continued its positive momentum by posting revenue growth of 600% and expanding its network to over 350 unique insurance platform users in 2021. This growth was largely driven by the adoption of the LiquidX Partner Program, a white label offering that enables clients across the Credit Insurance value chain – brokers, insurers, alternative risk providers, and insured parties – to digitize their operations by leveraging LiquidX technology.
“Demand for our products has risen as industry stakeholders aim to increase efficiency, reduce risk, and scale more effectively. Our clients have recognized that digitization is the key to achieving these goals,” said Jim Toffey, CEO of LiquidX. “By 2025, upwards of 50% of Credit Insurance will be originated, managed, and transacted digitally, and this adoption continues to accelerate at a faster rate each year. The winners in this space will be the firms that fully embrace digitization.”
LiquidX was the pioneer in building the world’s first digital Credit Insurance platform in 2018 and launched InBlock Digital Policy Management in 2021. Created specifically for the Credit Insurance industry, this solution leverages blockchain and AI technologies while seamlessly integrating policies into broader working capital and risk management processes.
“The key to our success has been the ability to provide innovative, flexible solutions for our clients at a competitive price point. We employ subject matter experts who work hand-in-hand with clients during all phases of an engagement. This consultative approach ensures our clients receive a best-in-class user experience, on-time and within budget,” said Todd Lynady, Global Head of Insurance at LiquidX. “While we offer an end-to-end solution, our modular approach provides the flexibility needed to enhance or complement legacy systems already in place. Interconnectivity and interoperability are core tenants of our offering.”
The market took notice of LiquidX’s results and innovation in 2021. The company was named a Top 10 finalist at the Singapore FinTech Festival’s (SFF) Global FinTech Awards, sponsored by the Monetary Authority of Singapore (MAS), and a Top Five Insurtech at the Benzinga Global Fintech Awards.
LiquidX also expanded its global presence in 2021 with the addition of Alex Bursak, Regional Director of Insurance, based in Singapore. Further expansion is planned in Europe during 2022.