The Future of Insurance for the Unbanked and Cryptoassets

What is PolicyPal Network?

PolicyPal Network is a platform built with a twofold vision of addressing key issues that overlap the fields of both insurance and cryptoassets in the world today.


Giving a peace of mind to the cryptocurrency community with CryptoProtect.


Providing the unbanked the access to protection with mutual aid insurance.


Brings transparency, accessibility and cost savings to all stakeholders.


Mitigate elements of conflict in traditional, centralized insurance models.

PolicyPal Network's Vision


We envision a digital future where insurance and cryptoassets seamlessly overlap without any friction. We aim to achieve an end goal where cryptoassets holders are adequately covered by insurance from cyber network hacks and reducing the barriers of entry for insurance to the emerging markets through peer-to-peer mutual aid insurance implemented on the blockchain.


CryptoProtect Insurance for Cryptoassets

Total market cap for Cryptocurrency on 23rd December 2017:
US$500 billion

CryptoProtect – Cyber security service in partnership with Insurers to protect cryptocurrency assets.

We have observed a strong demand for cryptocurrency asset insurance due to the fear in consumers that their wallets and accounts on exchange could be hacked. With the prices of both Bitcoin and Ethereum surging to record highs, consumers who are using cryptocurrency wallets and trading on exchanges will increasingly look out for solutions and hedge their risk.

CryptoProtect will be distributed by PolicyPal Singapore and underwritten by “AA” rated global insurers and it will protect assets of blockchain startups in the initial launch. Future plans include insuring cryptowallets on a personal level, similar to mechanics of car insurance.

Current status: In talks with "AA" rated global insurers.


Inclusive Insurance for Emerging Markets

A big portion of Asia’s 4.4 billion population is still heavily underinsured in relation to the west. A study by Swiss Re found that the mortality protection gap in the Asia Pacific was as large as US$58 trillion in 2014.

PolicyPal Network is targeted at lowering barriers of entry for the unbanked that traditionally do not have insurance protection due to costly premiums in relation to their income. With P2P mutual aid insurance, we want to build a inclusive community where members are able to obtain protection at a relatively low cost.

The smart contracts automates the underwriting of policies and claims handling powered by PolicyPal Network blockchain which reduces the cost of insurance premiums making insurance protection affordable for the unbanked.

At this juncture, this P2P mutual aid insurance initiative is in planning phase and the intention is to offer P2P mutual aid insurance only outside of Singapore. PolicyPal Network will be in consultation with legal advisers in the jurisdictions where such P2P mutual aid insurance is eventually to be offered to ensure compliance with all applicable laws and regulations.


PolicyPal Network Blockchain

    Powering the decentralised insurance network across different countries
  • Smart Insurance Contracts - weather condition triggers, fraud detection, pricing algorithm adjustments, claims submission and payout.
  • Instant settlement and issuance of policies.
  • Secured blockchain design for privacy to protect sensitive policyholder details.

PolicyPal Singapore's Track Record

Our existing business: PolicyPal Singapore is an Monetary of Singapore (MAS) Licensed Insurance Broker and Exempted Financial Advisor that enables individuals to buy, manage and optimise their insurance policies.

To date, PolicyPal Singapore has accumulated a user base of over 32,000 in Singapore alone since launch of product 12 months ago. We are also Singapore's first and only graduate from the MAS fintech regulatory sandbox.

    Selected Achievements:
  • Orange Fab Asia Winner Tokyo 2017
  • NTT Data Special Award 2017
  • Gold Award - Asia Smart App Summit Hong Kong 2017
  • T Hero Guangzhou China - Singapore Winner 2017
  • Prudential Fintegrate Partnership program
  • Google Asia Pacific StartonAndroid program

Find out more about our current PolicyPal Singapore business here.


CEO, Founder
Forbes 30 Under 30 Asia
LinkedIn Power Profiles 2017
Fellow at Singapore University of Social Sciences
Previous working experience:
Tech and Blockchain Lead
Full stack developer
8 Years of Technical experience
Previous working experience:
David Hoong
Head of Broking
26 Years of Insurance experience
Sold his company to Jardine Lloyd Thompson
Previous working experience:
Software and Blockchain Engineer
6 Years of Technical experience
AWS Certified Solutions Architect
Previous working experience:
Software and Blockchain Engineer
4 Years of Technical experience
Previous working experience:
All based in Singapore
The team is made up of 14 diverse individuals with a variety of backgrounds from insurance, finance and technology.
Previous working experience:


Yiseul Cho
MIT Grad, Ex-Facebooker,
Former HSBC’s Blockchain Team
Founder of the biggest HyperLedger meetup in London
Advisor to ICON, Medibloc, Waves platform, Nucleus vision, Beetoken
Shaun Djie
DigixGlobal was Ethereum First ICO
Ethereum Singapore Meetup Founder
Scott Walchek
CEO, Founder,
Serial entrepreneur, Early investor of Baidu, Exits to Yahoo, Adobe, Intercontinental Exchange
Vincent Loy
Managing Director
Accenture Asia
20 years of International experience in Financial Risk
Advisor to Monetary Authority of Singapore (MAS) on Cybersecurity
Prof. David Lee Kuo Chuen
Professor of Quantitative Finance,
Singapore University of Social Sciences
Investor in TenX, OMG
Bo Shen
Fenbushi Capital - 分布式资本,
Founding/Managing Partner
Early Ethereum Investor - Kyber, Quantstamp

Our Supporters

PolicyPal is invested by 500 Startups, Startupbootcamp Fintech and angel investors from private equity firms and family offices.


500 Startups is a global venture capital seed fund invested in Billion Dollar startups such as Twilio, SendGrid, Grab, Bukalapak, Revolution Precrafted.


Startupbootcamp FinTech is the leading global fintech accelerator. TenX, who recently raised US$80M through token sales, graduated from its pioneer Singapore batch.


PolicyPal is one of the three startups selected by PayPal for their nine-month incubation programme based in Singapore.


Fenbushi Capital is one of the first venture capital funds founded in 2015 that focuses on building world class blockchain-enabled companies.


BlockAsset - Digital Asset Management entity that invests in a portfolio of leading digital assets; service include: fundraising to M&A, asset management to market research in the digital asset space.


Global Brain has broad connections in Japan, APAC, and the US, helping their portfolio companies (Zilliqa, DigixGlobal, Ginco) to enter overseas markets by facilitating partnerships with major corporations in the region and provide hands-on support in every aspect of growing the business.




  1. Launch of Website and WhitePaper
  2. Announcement of Partnerships
  3. Token Generation Event ("Token Generation Event")


  1. Proof of concept for CryptoProtect insurance with global insurer
  2. Alpha Release: PolicyPal Network on Ethereum Testnet
  3. Alpha Release: Testing of CryptoProtect insurance with Partner
  4. Alpha Release: Testing of bonus in PolicyPal Network Tokens with selected community members


  1. Alpha Release: PolicyPal Network on Ethereum Testnet with partner in new country
  2. Beta Release: PolicyPal Network on Ethereum Mainnet with partner in new country
  3. Launch: Bonus in PolicyPal Network Tokens for members who purchase policies


  1. Alpha Release: PolicyPal Network Blockchain
  2. Beta Release: PolicyPal Network Blockchain with Proof of Stake
  3. Launch: PolicyPal Network Blockchain with exchange of ERC20 tokens onto PolicyPal Network Mainnet
  4. Launch: P2P Mutual Aid Insurance – Personal and Life Insurance on PolicyPal Network Blockchain


  1. Launch: Cryptocurrency insurance with global insurer
  2. Further expansion of PolicyPal Network into other Asian countries
  3. Proof of concept for new insurance products with global insurer on blockchain
  4. Launch: P2P Mutual Aid Insurance – Agriculture and Property Insurance on PolicyPal Network Blockchain
  5. New product ideas and ongoing iteration