Walid is the co-founder of Addenda, a blockchain Insurtech founded in 2018 that aims to bring trust back to the motor insurance industry, one block at a time. Originally an environmental engineer and certified insurance loss adjuster, Walid dedicated most of his free time since 2012 to learning about decentralized technologies.
Addenda is the first and only insurance blockchain consortium in the Middle East. We’ve built a blockchain platform that reconciles motor insurance recoveries between UAE insurance companies. What we’ve done at Addenda is bring together competing insurers under one roof and standardize the process by which they deal with each other, leading to a more collaborative rather than competitive approach. We’re already able to automate about ~80% of claims via our platform and are looking towards digitizing the claims process end-to-end