Watania Takaful Among the First to Embrace the Use of Blockchain Technology for Motor Claims

National Takaful Company (Watania) in the United Arab Emirates (UAE) has launched a new digital platform based on blockchain technology for the processing of motor claims from other insurance companies, which is expected to bring in time and cost benefits.

Dr. Ali Saeed bin Harmal Al Dhaheri, Chairman of the Board of Directors of Watania, said that the company had launched and implemented several new initiatives in 2019 to enhance its overall performance. He added that Watania was among the first in the UAE to subscribe to blockchain technology to manage the recovery process for motor claims from other insurance companies.

Dr. Dhaheri added that Watania has a ‘back to basic&rs...