YAS MicroInsurance (YAS), an Asia-Pacific-based insurance blockchain frontier, is partnering with telematics InsurTech Amodo, to delivery autonomous insurance on-chain.
YAS’s on-demand mobile application and eco-blockchain provides insurance for “new generation lifestyles” to address the emergency of web3 activities.
Amodo is an InsurTech which provides a platform to enable insurance companies to create and broker to place hyper-personalised usage-based (UBI) products on the market.
The partnership, according to YAS, represents the “new age of insurance against the backdrop of smart cities.”
YAS said that a multitude of technological advances across the fields of artificial intelligence, web3, DeFi, and the Internet of Things is shaping the future of society. With this developments however, bring unique risks, whilst also presenting opportunities for insurance to define the rules of this new world.
Marijan Mumdziev, Amodo’s CEO, said, “It really is fascinating to enter the new partnership with such an innovative high-tech company like YAS. Offering on-demand microinsurance for different kinds of activities and situations is truly changing the way people buy and claim insurance.
“Using Amodo’s technology and know-how, YAS will enrich and further optimise its current offer. I am delighted about this and can’t wait to show to the world what these two companies have on their roadmap.”
IMA Financial Group launched IMA Web3Labs, the metaverse’s first insurance and risk management research and development facility, earlier this year. The facility will explore the risks associated with digital and meta assets from within the metaverse, to better prepare companies to manage such risks.
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