Loader

Addenda's Life Insurance Blockchain

Addenda's Life Insurance Blockchain

Addenda's Life Insurance Blockchain

Rank: 1st Runner up

Industry: Fintech

Country: United Arab Emirates

Track: Ideas Track

Visit website

Addenda is an insurtech startup which utilizes the blockchain to share life insurance data among a consortium of insurance providers. Addenda’s prototype acts as a screening tool to ‘identify risk’ for new life insurance applicants.

The interface uses blockchain technology to anonymously and transparently access historical data on an applicant’s policy usage across a network of insurance providers. By using a common ledger, insurers will be able to minimize the uncertainty of whether an applicant may pose a risk.