Project Eleven, a post-quantum security firm, said Tuesday it has formed a development partnership with Bermuda-based Relm Insurance to study how quantum computing threats should be evaluated in digital asset insurance underwriting. The two companies will work on ways to fold post-quantum security controls into the underwriting process, according to the announcement.
What the partnership covers
The agreement pairs Project Eleven's work on post-quantum security with Relm's specialty insurance business, which covers digital asset risks. The stated goal is to build a method for assessing quantum-related exposure when insurers write policies for crypto companies and other digital asset holders.
That's a narrow but concrete piece of work. Underwriters already weigh custody arrangements, key management practices and operational history when pricing digital asset coverage. The partnership would add another category: whether a client's systems are prepared for the day a quantum computer can break the cryptography that currently secures wallets and transactions.
Neither company released financial terms, a timeline for the work or details on what the resulting underwriting framework would look like. The announcement described the effort as a development partnership rather than a product launch.
Why quantum risk is moving onto the underwriting desk
Quantum computing has been a background worry for cryptographers for years. The concern is straightforward: a sufficiently powerful quantum machine could, in theory, defeat the public-key cryptography that underpins most digital asset infrastructure. That would put private keys, signatures and stored value at risk.
For insurers, the question is less about the science and more about timing and evidence. Underwriters need something they can measure and price. The Project Eleven-Relm collaboration appears aimed at producing that — a way to evaluate whether a prospective policyholder has adopted post-quantum security controls, and how that affects the risk being transferred.
The partnership doesn't claim to have solved the underlying technical problem. It's focused on the insurance side: how to ask the right questions, what evidence to require and how to reflect the answers in coverage terms.
Bermuda as the base for digital asset coverage
Relm Insurance is based in Bermuda, a jurisdiction that has built a specialty insurance market around emerging risks. The company has positioned itself in the digital asset insurance space, writing policies for clients that hold or manage crypto assets.
Bringing a post-quantum security firm into that underwriting process is an unusual step for the sector. Most digital asset insurance discussions still center on custody failures, hacks and smart contract bugs. Quantum risk has largely been treated as a long-dated concern, not something that shows up in a policy application.
The partnership suggests at least one insurer wants to change that, or at least to be ready if the market starts asking for it.
What happens next
The two companies haven't said when they expect to produce a working framework or whether it will be applied to Relm's existing book of business. For now, the partnership is a development effort, and the details that would matter to policyholders — coverage limits, exclusions, premium adjustments — aren't public.
The next signal will be whether Relm begins writing policies that explicitly reference post-quantum controls. Until then, the work sits in the category of preparation: an insurer and a security firm trying to figure out how to price a risk that hasn't fully arrived.
