Insureum Protocol’s 1st Global Insurance Agreement Signed With AXA
Zikto, the team behind the Insureum Protocol, has signed an MoU with the French multinational insurance firm, AXA.
The agreement will integrate the Insureum Protocol across the entire spectrum of insurance processes: data integration, product development, sales and marketing, and claim management. Zikto will provide their open-source API, along with a subsidy of Insureum tokens to facilitate product development, sales, and management. AXA will use the Insureum token as a currency and coordinate marketing activities with Zikto.
AXA was selected as the first client due to two main reasons:
- They have an in-depth understanding of blockchain technology, and interest in developing blockchain solutions. AXA was the pioneer insurer to go on the blockchain, having developed a blockchain-based insurance product in 2017 that leverages smart contracts to automate the claim management process.
- They have a global presence. With AXA’s widespread coverage, their cooperation will not be limited to Korea, but to the entire Asia-Pacific region from the very start.
