WTW has acquired Redefind, a web-based platform that helps digital-asset owners access insurance products, as the global broker moves deeper into crypto risk transfer. The deal brings specialist digital-asset recovery infrastructure into Willis, WTW’s broking business, and gives the firm a dedicated route into protection products for tokenized assets and crypto markets.
The first product will launch in the UK as a non-custodial, cost-of-recovery insurance solution for digital-asset theft or loss. That distinction is central: the cover is designed to fund recovery work, not insure custody balances directly, with eligible costs tied to forensic investigation, asset tracing and legal recovery.
Recovery Costs Become the Insurance Entry Point
Redefind’s model targets one of the most painful gaps in digital-asset ownership: the cost and complexity of pursuing stolen funds after an exploit, wallet compromise or operational failure. For many victims, recovery is not only a technical problem but a legal and financial one, requiring blockchain forensics, cross-chain tracing and coordinated action across jurisdictions.
WTW said Redefind’s founders, Richard Daws and Connor Edward, have joined Willis following completion of the transaction. The business will continue developing inside WTW’s Affinity practice, with broader distribution expected through the broker’s global network. The acquisition gives WTW both a product platform and specialist crypto insurance talent.
Alastair Swift, head of global specialties at Willis, framed the deal around rising demand for credible regulated protection solutions as digital assets move further into mainstream finance. WTW is positioning crypto recovery insurance as part of the next generation of risk-transfer products, rather than as a niche add-on for retail token holders.
Underwriting Crypto Recovery Is Still Hard
The model limits some insurer exposure because it focuses on recovery expenses instead of guaranteeing the value of lost assets. Still, pricing this kind of cover requires new underwriting assumptions, including recovery probability, wallet-control evidence, legal venue risk, forensic cost curves and the speed at which stolen assets can be moved or mixed.
Claims handling will be another test. A workable product needs rapid incident intake, proof of ownership, chain-analysis partners, legal escalation and clear rules on what recovery actions are covered. Digital-asset insurance cannot scale if claims workflows remain improvised after every theft.
WTW also described Redefind as using cryptographic proof of ownership to help make digital assets insurable across different custody models. That mechanism could help insurers verify exposure without taking custody themselves, which is important for users who hold assets in self-custody, exchange accounts or institutional custody setups.
The value proposition is practical. A stolen wallet or compromised protocol position can leave holders facing high forensic and legal costs before any recovery is possible. A cost-of-recovery policy gives victims a funded path to pursue assets, even when full restitution remains uncertain.
The opportunity comes with operational risk. Attack methods evolve quickly, smart-contract exploits cross jurisdictions, and legal recovery may depend on exchanges, courts and law enforcement acting in time. The product will need disciplined exclusions, clear loss definitions and measurable recovery outcomes to avoid transferring too much uncertainty to carriers or clients.
The next phase is execution. WTW plans to begin in the UK and expand into broader markets and products as capabilities mature. If Redefind’s platform can turn recovery outcomes into repeatable underwriting data, the acquisition could help large insurance brokers move from crypto observation to active market participation.
