UAE: New digital platform to speed up motor insurance claims

UAE: New digital platform to speed up motor insurance claims

The new blockchain solution, made in the Emirates, puts an end to a decades-old industry challenge

Published: Tue 27 Sep 2022, 1:32 PM Last updated: Tue 27 Sep 2022, 3:48 PM

The first UAE blockchain digital platform which enables insurers to reconcile motor recovery claims between each other and improve their financial position has been rolled out in Abu Dhabi, putting an end to a decades-old industry challenge.

XA Group, a global provider of Digital, Hardware and Manpower solutions in the automotive aftersales industry on Tuesday announced the launch of Addenda, the first ‘Made in the UAE’, Blockchain-based, end-to-end digital solution.

Leading UAE insurers including Abu Dhabi National Insurance Company, Emirates Insurance Company, Yas Takaful, and Oriental Insurance Company have been among the first to adopt the digital solution in the UAE, highlighting the sector’s appetite for transparency and digitalisation.

During the launch event held in Abu Dhabi under the patronage and presence of Abu Dhabi National Insurance Company, Emirates Insurance Company, Yas Takaful, and Oriental Insurance Company, XA Group announced that it is granting all MENA motor insurers open access to Addenda for the first six months in a bid to improve their financial position and help them overcome the challenge of motor recovery