FinTech news in broker category

Sienna is among several other blockchain startups trying to prevent “front-running”, where transactions on Ethereum can be preempted by someone else simply by them paying a higher transaction fee — just like trumping a trade on the stock market by paying a higher fee to a broker.

To get insurance, these businesses typically go through an insurance broker rather than go directly to the insurance provider, Asaf Lifshitz, co-founder and CEO of Sayata, said via email. Instead, Sayata developed a marketplace that is fully automated and done online to provide several insurance quotes from leading insurance providers based on a few pieces of information about the business inputted by the broker. That and an easy process means clients often go with the insurance offered by Sayata’s broker partners, Lifshitz said. It also enables the company to go after more of the small and medium-sized business insurance market that Lifshitz estimates is over $100 billion just in the United States.