Index Forms Foundational Strategic Partnership with Pranav Pasricha and BluePond Capital

Index Biosystems (Index) is excited to announce a foundational partnership with BluePond Capital, led by the renowned insurance industry expert Pranav Pasricha, who invests in risk management, insurance underwriting and distribution businesses. This alliance will significantly bolster the development of Index’s innovative BioTag-backed insurance products, designed to revolutionize risk response and mitigation within agricultural and food supply chains.

Pranav Pasricha, a leader in the insurance sector, has an impressive track record. Previously serving as Global Head of P&C Solutions for Swiss Re, CEO of Intellect SEEC, and EGM at QBE Insurance Group, Pasricha now heads BluePond Capital. He is dedicated to investing in and providing hands-on guidance to insurance and technology companies, driving transformative change within the industry.

Mike Borg, Founder & CEO at Index, speaks highly of the partnership, stating, “Pranav’s entrepreneurial spirit, passion for technology, and deep understanding of the insurance sector will ensure that the collaboration between Index and BluePond delivers ground-breaking solutions for our clients. We’re delighted to have him personally oversee the development of our insurance programs.”

Pranav Pasricha stated “In a world with widespread illness, poverty and hunger, shocking amounts of food get discarded due to food safety concerns that are hard to validate. Farms, food processing and retail businesses face growing business continuity risks and insurance costs due to the increasing cost and complexity of contamination and recall incidents. I consider team BluePond fortunate to have this opportunity to work with Index Biosystems to improve food safety and narrow the protection gap in our food supply chain.”

This strategic partnership comes on the heels of Index’s addition of food safety and risk management expert Dr. David Acheson, and the recent admittance to the Bermuda Monetary Authority’s (BMA) Innovation Hub, a nurturing environment for companies to develop and test novel technologies or business models during early stages. Pasricha’s expertise will be crucial in shaping and refining Index’s insurance products throughout the program.

With this foundational agreement in place, Index and BluePond Capital are set to redefine the product liability, recall and contamination insurance landscape, bringing cutting-edge solutions to agricultural and food supply chains.

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About Index Biosystems

Index is defining a new category of traceability with BioTags. BioTags are microscopic barcodes made from baker’s yeast that are applied directly to products and connect those physical products to their digital supply chain. Index is building BioTag-backed insurance products that guarantees proof-of-ownership to create new categories of product liability, and recall and contamination insurance.

About BluePond Capital

BluePond Capital helps build risk management, insurance underwriting and distribution businesses. It brings together private capital, technology, operations and domain expertise, as well as a network of highly experienced Insurance and Technology partners to create a unique growth proposition for its partner companies. It supports both younger stage as well as established companies. It aims to create a network of partner companies that can make a material impact on the way insurance industry operates today, creating better lives for the end insureds and above average returns for entrepreneurs and investors.