No insurance company.
Just people.

Explore Nexus Mutual


Smart Contract Cover

Using blockchain technology

Nexus Mutual uses the power of blockchain technology and Ethereum to allow people from all over the world to share insurance risk together without the need for an insurance company.

Nexus Mutual will initially launch with one product, Smart Contract Cover. This will provide a fixed claim pay-out should the designated smart contract be used in an “unintended way that results in financial loss”. Like The DAO hack or the more recent Parity multi-sig wallet issues.

We are also planning to provide more standard insurance products in the future, like earthquake cover, which can be seen in our alpha demo.

test Alpha demo

Run by members

No insurance company. Just people

Nexus Mutual is run entirely by its members. This means only members can decide which claims are valid. All member decisions are recorded and enforced by smart contracts on the Ethereum public blockchain. 

Read whitepaper

Open Membership

Worldwide open membership

Membership will be open to anyone, worldwide. Becoming a member will allow you to:

  • Purchase Smart Contract Cover against unintended code usage
  • Earn rewards for assessing claims
  • Participate in any surplus distributions
  • Propose and vote on future product developments
  • Propose and vote on changes as to how the mutual is run

TEST demo

Membership opens in late 2018

Membership of the mutual will be represented as “NXM” tokens on the Ethereum public chain and will be available for purchase after launch. All NXM token holders become members of a UK company limited by guarantee and will have legal obligations in the UK.

All membership fees go directly to fund the risk pool. The risk pool primarily covers claims but can also be used to fund future developments if agreed to by the members.

NXM token holders may use their tokens in the following ways:

  • Burning/Destroying tokens in exchange for Smart Contract Cover.
  • Posting tokens as a bond to vote in claims assessment and earn more NXM.
  • Locking tokens for a period of time to participate in any surplus distributions.
  • Voting on governance aspects as well as future developments, like a DAO.


Token Overview

continuous token model 

NXM will use a continuous token model, meaning membership can be purchased at any time for a variable price. The price of NXM will increase based on two factors:

  • The total supply of NXM tokens in circulation.
  • The funding level of the risk pool relative to the potential claims risk (Minimum Capital Requirement).

If the funding level of the risk pool exceeds 180% of the Minimum Capital Requirement the smart contracts will begin distributing surplus funds to members. For further details see the whitepaper. We welcome feedback on the proposed token model.

Our Team

Insurance Expertise

Hugh Karp
Founder | Insurance Professional

Insurance professional and actuary with 15 years of experience in a broad range of insurance and reinsurance roles including CFO of UK Life operations for a global reinsurer.
Blockchain enthusiast since 2011. 

Technical Partners | Somish Solutions

Ish Goel

CEO and key blockchain architect at Somish Solutions. Established blockchain centre of excellence in 2016 and has overseen development of several blockchain MVP’s across several industries and government. 

Nitika Arora
Lead Developer

Full stack developer and lead technology architect at Somish Solutions. Focussed on technology design, enterprise scalability and security. Team lead for Ethereum based projects. 


Steve Barker

Founder and CEO of SwapForex with over 22 years experience in financial services and start-ups. Has managed the launch of a number of UK and international Investment Funds including as a former Fund Director. Co-founded numerous start-ups in media, internet TV and financial services.

Evan Van Ness

Founder of

It's time to decentralise the Internet.