PrefLogic teams up with InsurTech to Advance Digital Securities Markets
BUFFALO, NY - July 30, 2019 - PrefLogic, a security issuance provider, and Assurely, an InsurTech company, announced today a new partnership to advance digital securities markets.
Leveraging a new type of insurance created by Assurely, PrefLogic will work with Assurely to integrate their TigerMark™ insurance policy into its platform to benefit both the issuers of and the investors in digital securities.
“The introduction of digital securities represents technological advancement and change,” says Todd Wier, PrefLogic’s Founder. “Change always courts a level of uneasiness. We believe an insurance policy that can provide benefit to both the issuer and investor would help to ease doubts surrounding this modern investment instrument.”
PrefLogic’s STO Wizard, a security token issuance software, will empower SME’s and individuals seeking to offer digital securities in pursuit of the capital necessary propel their business pursuits. Concurrently, Assurely's TigerMark insurance policy will work in tandem to benefit both issuing companies and their investors participating in security token offerings.
“PrefLogic's STO Wizard is at the core of innovation in capital markets and capital raising,” says David Carpentier, CEO at Assurely. “Through integration with PrefLogic we are hitting at the core of what insurance was created to do, advance commerce and business. We are excited about this partnership and its significance. It combines the ease of use when raising money with the trust, safety, and confidence that healthy marketplaces and industries need to thrive.”
With Assurely’s TigerMark policy, security token issuers will be protected from covered investor complaints and legal attacks while investors will have the ability to leverage the company’s innovative claims process in pursuit of due process.
Todd Wier at PrefLogic adds, “Security tokens are a powerful instrument that SME’s and individuals can use to gain access to the capital they need. Integrating insurance into the transaction should promote investor confidence and further evolve the space.”
PrefLogic’s STO Wizard is expected to go live later this year, with Assurely’s insurance component available at the issuer's option.