Press release

Data Gumbo Partners with Cobbs Allen to Insure Blockchain-Based Smart Contracts

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Sponsored by Businesswire

Data Gumbo Corp., the smart contract company building a trusted transactional network for tomorrow’s industrial leaders through GumboNet™, its massively interconnected blockchain network, today announced a partnership with Cobbs Allen, a national independent agency focused on risk management in niche practice groups. Cobbs Allen will represent Data Gumbo in the insurance market, creating a safeguard for error and omission occurrences in the data or operations of any blockchain-based smart contract.

“Partnering with Cobbs Allen provides not only peace of mind for our customers but allows Data Gumbo to tout insurable contracts for complex scenarios,” said Andrew Bruce, CEO of Data Gumbo. “Smart contracts offer security, certainty of data and bottom-line savings, all aspects that are redefining industry relationships. Adding a bespoke insurance layer to our product alleviates and allays any anxiety or worries regarding the execution and operations of our blockchain-based smart contracts.”

Data Gumbo’s subscription blockchain network, GumboNet, frees industry from building and sustaining stand-alone, in-house blockchain solutions with their inherent lack of interoperability and neutrality. Built initially for oil & gas but applicable to a multitude of industrial applications, GumboNet provides an immutable and auditable record that enables counterparties to implicitly trust transactions. Adding an extra layer of insurance with Cobbs Allen to protect against error or omission instances in smart contracts further enhances the reliability and security of Data Gumbo’s offering as automated, smart contracts evolve into the new industry standard.

“Part of the Cobbs Allen philosophy is to attack and advise around complex risks, and then transfer those risks to the insurance market through compelling and cost-effective means,” said Josh Kirklin, SVP of Cobbs Allen. “We are excited to partner with Data Gumbo as they expand beyond their unique platform in the oil & gas sector, and are proud to provide a backstop of insurance for their customers.”

About Cobbs Allen

Cobbs Allen is an independent, national agency focused on risk management in niche practice groups. Founded in 1887 and headquartered in Birmingham, AL, Cobbs Allen has offices in Columbus, Houston, New Orleans, New York City, Kansas City, Mobile, and Tulsa. The firm is still owned and led by its employees. For more information about Cobbs Allen, please visit cobbsallen.com.

About Data Gumbo

Data Gumbo is the trusted transactional network for tomorrow’s industrial leaders. Its solution GumboNet™ is a massively interconnected blockchain network that automates smart contracts. Headquartered in Houston, Texas, Data Gumbo has a subsidiary office in Stavanger, Norway. To date, the company has received a $6 million Series A equity funding co-led by Saudi Aramco Energy Ventures, the venture subsidiary of Saudi Aramco, and Equinor Technology Ventures, the venture subsidiary of Equinor, Norway’s leading energy operator. For more information, visit www.datagumbo.com or follow on LinkedIn, @DataGumbo and Facebook.