It has been an exciting month in our endeavors to bring about true change in the Insurance Industry. We have completed several international cooperation agreements, both for distribution, and manufacturing partnerships. We have submitted several proposals, in Singapore and Indonesia, some of which are for very exciting DLT-based industry networks. And finally, we have been able to attract an additional top advisor to our venture. One that we are pleased with.
As you know, we have developed several product applications for the insurance industry. One for DLT network operations and one for DLT-based insurance products (for details see i-365 on our website).
Now the appeal of those cooperations is getting enhanced by a partnership that we are finalizing with DXC, one of the insurance largest providers of core insurance technology. The cooperation foresees plug-ins between our solutions and the DXC core insurance systems and applications.
As you all know, our business is based in Singapore, and although this country is very much developed and is a great place to work on new technology, it is also a small place. Therefore we are very pleased to be able to announce that we have added 2 distribution partners. One in Indonesia and the other one is in Australia. These are two very different markets and will provide a wide array of opportunities. More markets will follow.
The deal pipeline is filling up quite nicely. The new markets are starting to contribute and Inmediate has reached in-principle agreement to build and operate a DLT solution for an employee benefit operator for serval millions of members. Again a fantastic use case for DLT and hopefully the beginning of many more to come.
Inmediate’s New Advisor
Earlier this week we announced to the appointment of Michael Gourlay. Mike has 40 years’ experience in international markets, mostly in Asia, Most recently Mike was Director and Chief Executive Officer, MSIG Insurance (Singapore) Pte. Ltd. and concurrently Regional Head of Broker and Bancassurance Distribution for MSIG Holdings (Asia) Pte. Ltd. He was also a member of the Management Committee of the General Insurance Association of Singapore
Mike is a real insurtech fan and has hit the ground running for us.
General Insurance Association of Singapore
We have put in a proposal for the replacement of the current accident management and reporting system of the General Insurance Association of Singapore. This would be a fantastic DLT application for the Singapore insurance industry. All insurers use this application to report, negotiate and settle car insurance claims, including dispute resolution and keeping track of important data such as no-claim discounts and accident history. Inmediate has progressed to the final round and we truly hope that the association will agree to make their organization future-ready by using our DLT application and network.
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