Addenda

Insurance
Addenda header

Addenda

Insurance

End-to-end insurance settlement layer

United Arab Emirates, Dubai
$10K
Total amount raised
2018
Year of establishment
Active
Status

About

Hi we’re Addenda!


Addenda is a registered company owned by FinTech Hive,DIFC. Addenda Life Insurance Platform utilizes the blockchain to share life insurance information among a consortium of insurers. They have built a prototype from scratch that helps life insurers avoid anti-selection, non-disclosure, overexposure, and ensures transparency between the policy applicant and the life insurance company.
Addenda is built on Hyperledger fabric and uses distributed ledger technology (DLT) to streamline processes between insurance companies. Tailored tasks are reported in real-time on their user-friendly interface and then timestamped as evidence onto the blockchain. This allows users to report claim movements in a completely encrypted manner.

Key objective

Allowing insurers to report claim and policy changes in a completely verifiable and encrypted manner.

Slogan / Motto

You've got Questions. We've got Blockchain.

Use cases

Fraud & Risk Prevention
Health Insurance

Team

Team members

Karim Davis Dib Co-Founder & Business lead

Responsibilities

An industrial engineer by profession, he started his career as a liaison engineer for engineering consultancy CH2M. Using his engineering knowledge, he soon found himself working as the head of operations for TMS, a traffic management startup in Qatar.

Walid Daniel Dib Co-founder and Project Lead

Responsibilities

Originally an environmental engineer and certified insurance loss adjuster, he has also dedicated most of his free time since 2012 to learning about decentralized technologies. While working in the Insurance industry, he was also researching cryptocurrency for Cointelegraph and Bitcoin Magazine.

Products

Funding

Received funding
$10,000
Total amount raised
5
Rounds
6
Total amount of investors
Amount Raised
Funding type
Funding round closing
Investors
N/A
Loan
AB Accelerator
N/A
Seed
500 Startups
Beyond Capital
N/A
Incubator/Accelerator
Hub71
$10,000
Grant
MITEF Arab Startup Competition
N/A
Incubator/Accelerator
FinTech Hive Accelerator

News

Abu Dhabi National Insurance adopts blockchain, partners with Axa, Emirates Insurance

Abu Dhabi National Insurance Company (ADNIC) has announced a partnership with Addenda Technologies to use blockchain for the motor claims process. The Emirates Insurance Company and AXA Insurance are also participating in the effort and will partner with ADNIC for a pilot of the blockchain solution. ADNIC and Addenda have been working together since 2018...


2 years ago


Partnership
AXA
Addenda