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UAE - DIFC-based Insurtech firm secures new blockchain deal

Wednesday, 08 07 2019, Category: Insurance and Reinsurance, Country: U.A.E
Dubai International Financial Centre-based (DIFC) Addenda has signed five regional insurance firms to its new blockchain platform, according to local newswire, WAM.

The DIFC stated that Aman Insurance, Al Wathba Insurance together with National Takaful Company (Watania), Noor Takaful and Oriental Insurance are the first companies to adopt Addenda’s technology, demonstrating the first use-case for a blockchain transaction in the regional insurance industry.

DIFC seeks to shape the future of finance as well as unlock the potential of fintech and insurtech in the region. Addenda graduated from the second cohort of DIFC’s FinTech Hive accelerator programme in 2018.

Source: Banker Middle East
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