Addenda

  • insurtech
  • b2b
  • blockchain

Addenda is a B2B InsurTech that is on a mission to digitize motor insurance recovery by bringing a consortium of insurance companies onto the blockchain. The company provides a blockchain-powered motor recovery platform, which allows for a frictionless motor insurance recovery interface. With Addenda, insurers can reconcile outstanding motor insurance payments between each other at a fraction of the cost and time it takes today.

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Description

Overview

  • Strong team combining deep insurance domain knowledge with blockchain expertise;
  • Solid traction with 8 of the UAE’s top insurers transacting through Addenda’s blockchain network today;
  • AED 8 billion total addressable market in the UAE only;
  • B2B Business Model;
  • AED 6 million transacted on-chain in first 2 months.

Problem Statement

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Recovery is when your insurance company pursues another insurer after their client hits your car in an accident. This is done in order to recover the amount paid by your insurer to repair the car.

The current recovery process is:

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Value Proposition

Addenda minimizes the back-and-forth interaction needed to confirm the authenticity of recovery documentation, thereby dramatically reducing the time needed for claim resolution. Through a blockchain insurance recovery consortium Addenda can:

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Deep Dive: UAE Motor Insurance in 2017

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Market Opportunity

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Business Model

Our cost is less than what it costs to courier their recovery claims to at fault insurers.

Maintenance Fees Integration Fees Setup Fees Licence Fees

Participants on our network are charged 25 AED per claim.

Traction

Today, 7 of the UAE’s top insurers are transacting through Addenda’s blockchain network.

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Competitive Landscape Mapping

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High-Level Financials

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Roadmap

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Team

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Deal Terms

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About Addenda

Risks

Investing in private placements and early-stage startups can be very rewarding, but it involves risks, including loss of capital, illiquidity, lack of dividends, and dilution. Jibrel is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. You will only be able to invest via Jibrel.com once you are registered as sufficiently sophisticated.