Good question, thanks.

First, Black is only a platform where our business users can design insurance covers, get them capitalised, and write policies. Formally, it's Black Insurance that is writing the policies, though, on behalf of the business users, but we don't design or sell the products ourselves - that's up to our users.

We have a roadmap for applying for an insurance license just in Europe (EEA), currently. Becoming a licensed insurer is unfortunately a costly and time consuming exercise, but we have great advisors and everything is in place.

This means that in 2019, we and our users are only eligible to write insurance policies in EEA. However, a portion of the future business users (we have a network of dozens insurance brokers and other parties) already have the necessary licenses, and they can start issuing policies in other countries right after the platform is live.

Down the road, we intend to apply for licenses at other markets as well, with US being the usual suspect, of course.