Swinz, insurance managed by blockchain technology

The start-up Swinz is developing a range of insurance products for young people that are governed entirely by decentralized blockchain technology.

The Brussels start-up Swinz is developing an innovative concept of blockchain-powered insurance contracts. The startup is targeting millennial customersthe younger generations, with an online insurance offer, the specificity of which must be managed by this “block chain” technology, which is the basis of bitcoin and cryptocurrencies.



The use of blockchain technology in insurance has become obvious to the creators of Swinz.

Blockchain can be compared to an online register on which information, operations and transactions are recorded. Its distinctive feature is to operate in a decentralized manner. Blockchain does not rely on software run by a central server. It works in a distributed manner and is managed by all its users who are connected through the Internet.

The advantage of this technology is to provide all users with one reliable, verified and intangible information. Blockchain is a well-known technology unforgettable. It is used to store data, record online transactions and provide all users with an “official” overview of the history of the information written there.

The use of blockchain technology in insurance has become obvious to the creators of Swinz Didier Muréna, Kim Lauwers and Lorenzo del Marmol. For Didier Muréna, co-founder of the startup, the primary use of this innovative technology is to offer proof of the authenticity of insurance contracts integrated on the blockchain. These contracts are set in digital stone and cannot be changed without notifying users. Users (customers, brokers or insurance companies) can check the changes in the contracts at any time.

Blockchain also brings one decentralized storage solution, cheaper than commercial companies offering cloud offerings (dematerialized online storage). The Swinz system works on Hyperledger blockchainan open source solution available for free.



“We want to offer a tailor-made solution, adapted to the individual.”

Didier Murena

Co-founder of Swinz

Public responsibility

Swinz’s offer is specifically aimed at young, digitally oriented generations. It is a multi-branch product that revolves around liability insurance : RC tenant, RC private life, RC in case of accidents… The start-up wants to gradually add options such as e.g. pet insurance or insurance that covers damage to a laptop or smartphone.

Swinz also envisions supplementing its offer with car insurance or assistance abroad. “We want to give one tailored solution, adapted to the individual“, says Didier Muréna.

1 million

Swinz benefited from a fundraising of one million euros collected from private investors.

The entrepreneur, who worked for five years at Zurich Insurance, created Insurnode in late 2021, a platform that aims to create “insurance as a service” services. The Swinz project, which benefited from a fundraising of one million euros collected from private investors, is first realization of this ambition. Insurnode is a platform developed by InsurTree, which completed a capital increase of 5 million euros by the end of 2022.

The Swinz solution is technically ready, it is currently in the development phase. test with its first users. The commercial offer expires at the end of the first quarter of 2023. Discussions are underway with a brokerage firm, which is gathering several brokers ready to distribute the product. The offer will be offered via a system ofmonthly terminable subscription. “It is a subscription method that is little known in Belgium but already exists in Spain”, explains Didier Muréna.



“A travel assistance contract can only be activated when the customer travels abroad.”

Didier Murena

Co-founder of Swinz

Smart contracts

For the startup, the next step is to leverage blockchain technology in a much deeper way. One of the most interesting uses of this technology is to allow management of “smart contracts”, intelligent contracts. A smart contract can trigger or take effect completely automatically. This would make it possible to plan adapted pricing in relation to the duration of the exposure to the risk.

“For example, a travel assistance contract could only be activated when the customer travels abroad”, illustrates Didier Muréna. Liability insurance for a bicycle delivery person will be triggered automatically when the delivery person sits on the saddle. Same thing for insurance related to skiing. “Blockchain technology is ideal for solving this problem.“, assures Didier Muréna.

Swinz employs eight people in Belgium and works with 15 India-based developers.

The summary

  • The start-up Swinz is developing one provision of insurance products for millennials. The offer is focused on liability insurance.
  • The service is controlled exclusively by the decentralized technology blockchain.
  • This technology offers a proof of authenticity for insurance contracts and a cheap storage solution.
  • In the future, this system will allowautomatically activate smart insurance contracts.

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