Originally posted on Al Khaleej Times.

If 2018 has anything to show, it’s that fintech is no longer just a buzzword that established banks can mock startups for using. Estimates show that — on a global scale — investments in fintech startups since 2010 have almost reached $100 billion.

The Middle East is no different. Investors, regulators, and financial institutions no longer wish to sit on the sidelines, and for good reason: If regional financial giants wait for innovation to show at their doorsteps, they’ll lose to challenger banks that have taken a risky bet on disruptive tech.

In an…


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Photo by Tom Parsons.

Short answer: probably not.

Long answer: Because “probably not” is probably not the answer you were looking for, we’ve prepared a list of follow-up questions. Your industry problem will only need blockchain if your answer is “yes” to all of them. With that in mind, you can stop reading once you hit your first no.

Let’s go.

  1. Is a database needed?

If no, you don’t need blockchain.

If yes…

2. Does the existing process have parties with varying/conflicting interests reconcile data on their own ledgers for the same issue? (e.g.: claim or premium bordereaus between brokers, insurers and re-insurers).

if…


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Addenda presents our life insurance solution to Takaful Emarat for the first time

Where to begin

In March of this year, my brother and I decided that we no longer wished to work in our jobs (a civil engineer and an insurance loss adjuster respectively), and began hatching a plan to start our own business. Our obsession with decentralization and blockchain, along with our experience in the insurance sector, led us to the concept of Addenda: a start-up that intended to bring trust back to an industry that was built on it.

What started out as a casual after-hours exercise soon snowballed into drafting business plans, arguing over financial calculations, and setting timelines we knew we…


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A recent $2 billion fraud involving India’s Punjab National Bank has highlighted the need for tighter and effective internal controls and transaction monitoring processes for financial institutions — including banks and insurance service providers — which handle hundreds of thousands of client records worth billions of dollars. While banks have already started shifting from the brick-and-mortar mode to the digital era of Fintech, insurers are yet to fully embrace Insurtech as a means of detecting fraud, enhancing claim processing and improving customer experience.

How fraud plays out

Insurance fraud can be triggered both by those selling or buying an insurance…


Imagine a future where competing parties combat insurance fraud together without having to share any commercially sensitive data with each other. That future is ADDENDA.

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PLEASE NOTE: The below information is out of date, and will be updated shortly.

What it is

Addenda is a blockchain platform that uses Hyperledger Fabric to combat insurance fraud. Tailored tasks are reported in real-time on our user friendly interface, and then timestamped as evidence onto the blockchain. The Addenda platform is built to provide insurers and reinsurers with a map of policy agreements and claim progress. …

Walid Daniel Dib

I spend my time working on bridging the gap between decentralization and insurance technology.

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