It has long been known that the insurance industry provides vital support to major innovations. It’s no coincidence that the modern insurance industry and the industrial revolution arose in parallel. This has proved to be a convincing argument. argued that the invention of fire and property insurance — in response to the Great Fire of London — lubricated the gears of capital investment that powered the industrial revolution and is likely the reason why it started in London. Through that first and each subsequent technological revolution, insurance has offered innovators and investors a safety net and served as an outside, objective validator of risk — thereby acting as a source of both the encouragement and the security needed to confidently test and break barriers.

We live in the age of digital finance, which is advancing at a rapid pace. Recently, the recent Executive order from the White House on “Ensuring Responsible Development of Digital Assets” further underscored this and was a watershed moment for the industry, elevating the discussion around the importance of the technology to the national stage and acknowledging its importance to the United States strategy, interests and global competitiveness.