Global advisory, brokerage and solutions company WTW has acquired Redefind, a technology platform focused on improving access to insurance products in the cryptocurrency and digital asset space.
The acquisition is part of WTW’s broader strategy to develop insurance and risk management solutions for clients in the emerging space of digital finance. The company said the move supports its ambition to expand its service capabilities to serve organizations and individuals facing risks associated with digital assets, crypto markets and the tokenized financial ecosystem.
Redefind has developed a web-based platform designed to offer insurance products tailored to the digital asset market. With this acquisition, WTW plans to enhance the platform’s existing capabilities and support its future growth.
WTW said the initial proposal would be launched as a non-custodial insurance product, focusing on the recovery costs after digital assets are stolen or lost. This coverage is designed to help policyholders cover costs associated with forensic investigations, asset tracing activities and legal proceedings aimed at recovering stolen property.
The deal also sees Redefind founders Richard Daws and Connor Edward join Willis, WTW’s specialist risk advisory and brokerage business. WTW said both parties will help drive the continued development of the platform to expand its reach and product offerings.
The service is expected to launch in the UK first, with WTW outlining plans for wider geographical expansion as well as plans to launch more products over time.
Commenting on the acquisition, Alastair Swift, global head of specialist business at Willis, said: “As digital assets continue to move further into the mainstream, demand for reliable regulated protection solutions continues to increase. With this investment, WTW is taking a leading position to shape the future of risk transfer and protection in the digital economy.”
“We are committed to supporting clients as they navigate emerging financial and technology risks and delivering trusted, regulated solutions backed by our global insurance expertise.”
Anthony Borgman, head of GB Affinity at Willis, said the acquisition supports WTW’s long-term ambitions in the digital asset market. “We are delighted to acquire Redefind and welcome its founders to WTW. Under Richard’s leadership, the business will continue to grow and achieve wider distribution, supported by the WTW Affinity practice.
“This marks an important milestone in WTW’s broader digital strategy, laying the foundation for expanding our capabilities in digital asset protection and crypto insurance.”
WTW noted that the acquisition lays the foundation for further investment in digital asset protection solutions as demand for insurance products that address risk continues to grow in the rapidly developing digital financial sector.
