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Media company Singapore Press Holdings (SPH), insurance firm NTUC Income (Income), and LumenLab, MetLife’s Asia innovation center, have teamed up to pilot a blockchain platform aimed at automating the life insurance claim process, the companies said on Monday. Using LifeChain, a technology developed by LumenLab, SPH will encrypt...
PAL Network, an insurtech startup using blockchain technology to offer smart contract-based insurance products, has signed two memorandum of understanding (MoU) agreements with Toyota Tsusho Corporation and Allianz Malaysia to develop proofs-of-concept (PoCs), the startup said on Wednesday. The partnership with Toyota Tsusho focuses on using PAL Network’s blockchain technologies...
Digital currencies have remained a popular investment tool since Bitcoin first came on the scene 10 years ago. For many, they are considered as stores of value and are highly appreciated due to their limited supplies. It is because of this that they are also susceptible to thefts. Not only...
The Singapore subsidiary of Japanese insurance firm Mitsui Sumitomo Insurance Group (MSIG) has signed a Memorandum of Understanding with blockchain startup Inmediate to explore new insurance products that leverage blockchain and smart contracts technology. The partnership will help develop a network that connects insurers, distributors and consumers for insurance on...
A decentralised insurance platform has announced its support for the first blockchain-enabled insurance product to tackle natural disasters in Puerto Rico. According to an announcement, Etherisc’s hurricane insurance policy uses smart contracts to take away the strain of having to deal with traditional insurance companies. The need for the new...