- Meanwhile, a Bermuda-based startup, offers life insurance policies denominated in Bitcoin.
- The company has raised $19 million in funding from prominent investors, including Sam Altman, CEO of OpenAI, and Lachy Groom, former head of Stripe Issuing.
- Meanwhile’s policies are designed to provide long-term wealth preservation and protection against Bitcoin’s price volatility.
- The company leverages artificial intelligence (AI) to underwrite policies and optimize pricing.
Amidst the growing popularity of cryptocurrencies, a Bermuda-based startup named Meanwhile is making waves with its innovative approach to life insurance. The company offers policies denominated in Bitcoin, providing a unique way for individuals to protect their wealth and pass it on to their loved ones.
Meanwhile’s vision is to revolutionize the life insurance industry by leveraging the advantages of Bitcoin. Traditional life insurance policies are often complex, expensive, and subject to various fees and restrictions. Meanwhile aims to simplify the process and make life insurance more accessible to a wider range of people.
The company’s policies are designed to provide long-term wealth preservation and protection against Bitcoin’s price volatility. Premiums are paid in Bitcoin, and the death benefit is also paid out in Bitcoin, ensuring that policyholders are not exposed to currency fluctuations.
“We’re excited to be backing Meanwhile and its pioneering approach to life insurance,”
Sam Altman
To underwrite policies and optimize pricing, Meanwhile utilizes artificial intelligence (AI). The company’s AI algorithms analyze a variety of factors, including the policyholder’s health and Bitcoin’s price history, to determine the appropriate premium and death benefit.
Meanwhile’s approach has attracted the attention of prominent investors in the Silicon Valley tech community. The company has raised $19 million in funding from notable figures such as Sam Altman, CEO of OpenAI, and Lachy Groom, former head of Stripe Issuing.
“We’re excited to be backing Meanwhile and its pioneering approach to life insurance,” said Altman in a statement. “Bitcoin is a powerful asset class, and we believe that Meanwhile’s policies will provide a valuable way for individuals to protect and preserve their wealth.”
“Bitcoin is a better store of value than traditional fiat currencies,”
Zac Townsend
Meanwhile’s CEO, Zac Townsend, believes that Bitcoin-denominated life insurance has the potential to disrupt the traditional insurance industry.
“Bitcoin is a better store of value than traditional fiat currencies,” Townsend said. “Our policies are designed to help people pass on their wealth to their loved ones in a secure and transparent manner.”
Meanwhile is currently in the beta testing phase and is expected to launch its policies to the public in the near future. The company’s innovative approach to life insurance has the potential to transform the industry and make it more accessible and affordable for a wider range of people.
Source: Meanwhile’s website.
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