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Addenda is a UAE-based startup bringing trust to insurance industry, one block at a time.LEARN MORE
Addenda uses distributed ledger technology (DLT) to streamline processes between insurance companies. Tailored tasks are reported in real-time on our user friendly interface, and then timestamped as evidence onto the blockchain. This allows insurers to report claim and policy changes in a completely verifiable and encrypted manner.
Distributed governance tool to track and log insurance claims as they are filed in hospitals.
Decentralized policy applicant screening and validation tool.
Streamlined and automated recovery between insurers on-chain.
Each block contains a timestamp and a cryptographic hash of the previous block, leading to an up-to-date chain of records distributed to all participants.
Insurance company joins network as a node
connect with Addenda at specified data points
Data input validated for coherence and logged on-chain
authentic and dynamic
Each block contains a timestamp and a cryptographic hash of the previous block, leading loan up-to-date chain of records distributed to all participants.
Many insurers are considering using Blockchain as part of their operations to effectively manage, share, collaborate and reduce costs that result from duplicate information across the ecosystem.
This report illuminates how Blockchain technology can be used within the UAE’s domestic insurance ecosystem to improve efficiencies, reduce costs, and improve the insurance experience across the industry’s value chain.