Dash Investment Foundation (DIF), known to be the foremost memberless and ownerless investment fund, recently announced investing R$1.4 million or $250,000 in Brazil’s first online digital insurance firm, 88i Seguradora Digital. Established by Rodrigo Ventura in the year 2018, 88i is an insurance venture that operates online. The startup venture provides unique insurance services by employing Artificial Intelligence and Blockchain Technology that ensures the best customer experience. The major clients of the digital insurance company of Brazil are based in the industries of ecommerce, Fintech, Delivery, and Mobility. 88i is also a strategic partner of major online corporations of Brazil like Bitfy, U4Crypto, Vá de Taxi, and Pic Pay.
Ratified by Superintendence of Private Insurance, 88i promotes inclusion and innovation in insurance by deploying the Artificial Intelligence and Risk Design approach in 100% Cloud environment, Blockchain, and IoT. The investment by Dash will not only enhance the mass adoption of Blockchain technology and cryptocurrencies in Latin America but will also lead to the democratization of insurance in Brazil.
The team at 88i intends to employ the invested amount to implement the advanced Blockchain technology of Dash for the revolutionization of insurance company services through better delivery of insurance products, improvement in digital marketing, expansion of infrastructure, and acceleration of the commercialization of insurance innovations. With the help of the investment fund, 88i will be able to use the high-speed network of Dash for the registration of nano and micro insurance in real-time. The network shall enable quick and convenient recording and verification of policies and ensure timely remuneration of insurance claims. The advanced Blockchain technology of Dash helps in the creation of trust in the trustless ecosystem of insurance.
It is expected that 88i can raise a revenue of around R$7 million by selling more than 50,000 insurance policies by the end of 2021.