WTW Acquires Redefind to Bring Crypto and Digital Asset Recovery Insurance to Its Platform, Launching First in the UK

One of the world's largest insurance brokers has bought a small start-up that sells protection to people who own cryptocurrency. WTW, through its Willis unit, has acquired Redefind, a web-based platform that connects crypto and digital asset owners with insurance products, according to Insurance Business on June 3, 2026. This article summarises that report. An earlier version of this article described Redefind as providing crypto insurance infrastructure to the world's largest brokers and gave its scale. The report we reviewed describes a web-based platform and gives no figures for clients, employees or capacity, so those claims have been removed. The price and financial terms were not disclosed.

What does Redefind do? According to the report, Redefind's cover helps pay for forensic investigations, asset tracing and legal recovery after digital assets are stolen or lost. That is different from insurance that reimburses the value of the stolen assets. Recovery cover pays the costs of trying to find and get back what was taken: specialists who trace transactions on a blockchain, lawyers who pursue recovery, and investigators. The product will launch first in the UK, with wider market and product expansion planned later. The two founders, Richard Daws and Connor Edward, joined Willis when the deal closed.

What did the WTW executives say? Alastair Swift, head of global specialties at Willis, said that demand for credible regulated protection solutions is increasing as digital assets go mainstream. Anthony Borgman, head of GB Affinity at Willis, said he was pleased to welcome Redefind's founders, and that the business will keep evolving with support from the Affinity practice. Affinity business refers to products offered to the members or customers of a group or a platform, which fits a web-based product sold to a defined audience such as crypto holders.

What is the state of crypto insurance? The report says insurers have developed products covering crypto custody, digital asset theft, cyber exposures, and directors' and officers' liability for firms in the sector. Underwriting appetite has been limited by regulatory uncertainty, custody and valuation questions, and the frequency of high-profile thefts and cyber incidents. The sector is described as increasingly attractive to brokers and insurers seeking growth, but the article gives no market size or growth figures, so we do not offer any. Valuation is a particular problem: the price of a digital asset can change sharply, so the amount insured and the amount lost can differ greatly between purchase and claim.

Why would a broker buy a platform? Brokers earn commissions and fees by placing risk with insurers. Buying a specialised platform gives WTW technology and a customer-facing product in a niche that is growing but difficult to underwrite. It also fits a wider pattern of broker acquisitions of small firms, which Deloitte's 2026 outlook, covered on this site, describes as tuck-ins that deepen expertise. The Redefind deal is small and disclosed few details, so it should not be seen as a major shift in WTW's strategy.

What are the risks for customers? Crypto insurance is a new product class. Policies often have exclusions, such as losses from the owner's own mistakes, failure to secure keys, or voluntary transfers to fraudsters, depending on the policy. Cover that pays for recovery costs does not guarantee that assets are recovered. People considering such insurance should read the wording carefully, check who is regulated and what protection exists, and understand that insurance is not a substitute for good security practices such as protecting private keys and using reputable custodians.

How does it relate to wider risk? Regulators in many countries are developing rules for crypto assets, and insurers' willingness to cover them tends to follow regulatory clarity. The Singapore MAS stablecoin rules and Germany's BaFin guidance on cyber extortion, covered elsewhere on this site, are examples of regulators setting conditions for digital-finance activity.

What does the deal not tell us? The report does not say how many customers Redefind has, how much insurance capacity stands behind the product, which insurers underwrite it, or how it is priced. Those are the details that will determine whether the product is useful. Because it launches first in the UK, it will operate within the UK's regulatory framework for insurance distribution, which requires that firms selling insurance be authorised and that customers receive clear information about cover and exclusions. The report does not describe Redefind's regulatory status.

What might happen next? WTW says wider expansion is planned. If the UK launch gains traction, the product could extend to other markets and perhaps to a broader range of digital assets. Competitors, including other brokers and specialist insurers, may respond with their own offerings. The sector's difficulty with valuation and custody suggests that progress may be gradual. Customers should expect product terms to evolve, and should compare options as the market develops.

Why does this matter beyond crypto? Digital asset theft often involves scams and cyber attacks, areas where insurers and brokers have been building capabilities. Cover for recovery costs is conceptually similar to legal expenses or cyber response cover, which pay for specialist help. The digital assets market may therefore be an early test of how insurers handle risks that move across borders and are hard to value.

This article summarises a press report about a small acquisition and is not investment or financial advice.