WTW, a global insurance broker and risk advisory firm, has acquired Redefind, a platform specializing in crypto insurance, to broaden its digital asset protection offerings. The newly launched service focuses on covering expenses related to forensic investigations, asset tracing, and legal recovery efforts after the theft or loss of crypto assets, targeting a gap beyond traditional custodial insurance solutions.
Redefind’s platform provides insurance for digital assets held across various custody types by using cryptographic proof of ownership to verify insured assets. This non-custodial approach means policyholders retain control of their holdings while receiving coverage for recovery-related costs, marking a significant shift from typical custodial insurance products. The service will first roll out in the United Kingdom, with plans for wider market expansion.
Following the acquisition, Redefind co-founders Richard Daws and Connor Edward joined WTW’s broking business, underpinning the company’s growing commitment to servicing clients active in cryptocurrency markets, digital finance, and tokenized asset spaces. While the financial terms of the deal were not made public, WTW emphasized that the acquisition aligns with its strategic goal to innovate insurance solutions tailored to digital asset risks.
The insurance industry’s interest in cryptocurrencies continues to deepen, with major players exploring various crypto-related insurance, investment, and payment products. Recent developments include Delaware Life introducing Bitcoin-linked retirement annuities tied to a BlackRock spot Bitcoin ETF and Dubai Insurance launching a digital asset wallet that lets policyholders manage premiums and claims in cryptocurrency, supported by Zodia Custody’s infrastructure.
Blockchain-based payment systems are also gaining adoption for insurance transactions. For instance, Aon piloted insurance premium settlements using stablecoins such as USDC and PYUSD for prominent clients including Coinbase and Paxos. In parallel, firms focused solely on Bitcoin-based insurance products have attracted significant funding, like Meanwhile raising $82 million to expand Bitcoin-denominated insurance and savings options, and the Barbados-based Tabit insurer securing $40 million in Bitcoin to serve as its regulatory reserve for US dollar property and casualty policies.