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Noor Takaful is proud to be bearing the torch of InsurTech in the UAE market. A Shari’a compliant insurance company that cultivates an innovational culture and is always seeking new ways to provide the best customer support to its clients!
Recently, Noor Takaful along with four other insurance companies adapted Addenda’s technology, demonstrating the first use-case for a blockchain transaction in the regional insurance industry.
Based in the Dubai International Financial Centre, DIFC, Addenda is an InsurTech firm that uses distributed ledger technology to streamline processes between insurance companies.
Rajesh Sethi, the Chief Executive Officer of Noor Takaful stated, “As a member of the DIFC FinTech Hive partner network, we were delighted to play a role in Addenda’s journey. The new Blockchain technology is a first for the region and will enable institutions in the MENA region to collaborate more efficiently, eliminate intermediaries and speed up claims. It also has the potential to solve legacy challenges and to become the blueprint for the digital insurance technology of the future.”
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