Amodo, Galileo Platforms partner to offer blockchain InsurTech solutions
By Edil Corneille
Business-to-business (B2B) InsurTech companies, Amodo and Galileo Platforms, have entered into a partnership that will see the usage of telematics and blockchain technologies to enable insurance companies to transform their customer experience and offer new insurance solutions.
The partnership between Galileo Platforms, a specialist blockchain technology platform for the insurance industry, and Amodo, a provider of insurance telematics technology and advisory services, including behavior data analysis, will enable clients to benefit from their years of experience and expertise in their respective areas of the insurance industry. The partnership’s new customer-focussed insurance offerings will be available globally with the initial roll-out in Asia.
The partnership’s service will provide the tools to enable insurance companies to create new insurance solutions, such as pay-as-you-drive and pay-how-you-drive insurance covers, swipe-on-swipe-off travel or accident cover, or other tailor-made personalized insurance. These are solutions based on behavioral data, held securely and efficiently on the blockchain-based core policy administration system. The patented blockchain offers a shared source of truth to better serve the customers while eliminating duplication of data and cost in back-office systems.
“Consumers want more personalized, the relevant insurance cover that is easy to access, easy to use, and meets their lifestyle needs. We are very pleased to partner with Amodo to help create radically new digital solutions that will help protect families when and how they want it and based on their lifestyle and usage,” said Mark Wales, Chief Executive Officer at Galileo Platforms. “Our low cost, high-efficiency technology enables the whole life-cycle of insurance transactions to be completed at scale, without touching human hands”.
“We are excited to partner with the Galileo Platforms team as we believe that together we can bring even more value to our insurance partners or large brands wanting to offer innovative insurance services to their customers. Together, with our solutions combined in one we will move the insurance industry forward in Asia-Pacific”, says Darko Tukulj, Chief Growth Officer at Amodo.
IBSi Daily News Analysis
July 06, 2022
As cost-of-living crisis bites, how can financial services support their customers?Read More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage