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 owing to their involvement in the DIFC FinTech Hive accelerator programme. The two have developed a motor recovery solution underpinned by blockchain, allowing insurance companies to settle claims between each other seamlessly. The involvement of multiple underwriters explains the partnership with Emirates and AXA insurance to resolve claims.
“The solution will boost efficiency and customer satisfaction, as we enhance our role as the consumer’s trusted insurance partner. ADNIC is looking forward to future partnerships with Insurtech companies to reshape the sector and bring about further automation in key processes,” said Ahmad Idris, CEO at ADNIC.
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