XA Group rolls out MENA’s first digital platform to end impasse over claims recovery

XA Group rolls out MENA’s first digital platform to end impasse over claims recovery

- Abu Dhabi National Insurance Company, Emirates Insurance Company, Yas Takaful, and Oriental Insurance Company among the first to adopt the digital solution in the UAE

bu Dhabi, UAE: XA Group today unveiled Addenda, the first ‘Made in the UAE’, Blockchain-based, end-to-end digital solution that enables insurers to reconcile motor recovery receivables between each other, putting an end to a decades-old industry challenge.

Motor insurance recoveries owing between UAE insurers have posed a significant financial burden on the sector, and as a result has inspired a calling for innovative solutions to centralize and streamline the reconciliation process.

During a 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 receivables. The insurers in attendance were among the first to adopt the digital solution and gain hands-on experience using it.

Originally a blockchain technology start-up and a DIFC FinTech Hive member, Addenda is capitalizing on XA Group’s advanced automotive repair and insurance