Insurtech + Legaltech: LawCloud and Assurely Partner to Provide Discounted Insurance for Online Capital Formation

Legaltech LawCloud has formed a new partnership with Insurtech Assurely to provide discounted insurance for the securities crowdfunding and online capital raising industries, according to a note from the two firms.

Users of LawCloud’s iDisclose service will now receive a credit on the “CrowdProtector” insurance policy provided by Assurely.

The CrowdProtector service will also be integrated directly into the iDisclose platform to simplify the inclusion of an insurance policy in any crowdfunding campaigns. iDisclose by LawCloud is a software-based drafting tool that streamlines the filing process of complicated disclosure and regulatory filings.

CrowdProtector is specifically designed to protect new online capital formation strategies, such as equity crowdfunding and security token offerings (STOs). The service provides issuers protection against investor complaints and lawsuits as well as provides protection to investors should the issuer misuse the funds, purposefully misrepresent information in their offering documents, or steal the money.

David Carpentier, CEO at Assurely, says that preparing a securities offering takes a lot of time and money.

“The LawCloud/ Assurely partnership makes a difficult process easier, cheaper, and safer for everyone involved,” commented Carpentier. “The LawCloud platform was created by seasoned securities attorneys and represents a powerful and effective partner for every capital raising stakeholder interested in reducing risk, including us. Integrating our platforms enables companies raising money to provide investor confidence and properly protect themselves at less cost, erasing the painful process of buying insurance.”

Michael Knox, LawCloud CEO, sees Assurely as adding trust to the crowdfunding marketplace. Knox believes that CrowdProtector will help unlock an untapped investor base while simultaneously giving issuers the customized protection they need to run their businesses confidently.

“Assurely’s proficiencies in understanding the risks involved in both equity crowdfunding and STOs make them an ideal fit for this rapidly growing industry. LawCloud is very excited to assist Assurely by providing important data and its industry leading Form C disclose document.”

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