Yesterday blockchain insurance firm
Addenda announced its first five clients on its platform. The Dubai based company welcomed fellow UAE firms Aman Insurance, Al Wathba Insurance, National Takaful Company, Noor Takaful, and Oriental Insurance. Addenda aims to streamline insurance processes for regional businesses using distributed ledger technology (DLT).
The firm is based in the Dubai International Financial Centre (DIFC), which has its
own regulations and legal framework different from the UAE’s national system. Both the DIFC and Addenda see the gain of clients using the platform as a success.
“When the DIFC set out to develop its comprehensive FinTech ecosystem, of which InsurTech is a key component, our mission was to establish a space where the world’s leading financial institutions could engage with innovative entrepreneurs developing cutting-edge technologies,” explained Peyman Al Awadhi, the Marketing and Corporate Communications lead at the DIFC Authority.
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