Expect autonomous delivery of insurance on-chain via YAS microinsurance and Amodo

The world is changing at an unprecedented pace, with technological advancements significantly impacting the way we live and work. The insurance industry is no exception, and we are witnessing a paradigm shift towards autonomous insurance on-chain. This emerging trend is driven by insurtech firms that are leveraging blockchain, telematics, and other smart technologies to offer innovative insurance products that meet the evolving needs of modern consumers.

One such insurtech firm is YAS MicroInsurance (YAS), which is at the forefront of the insurance on blockchain frontier. YAS is redefining the traditional insurance model by offering on-demand mobile applications and eco-blockchain that provide insurance coverage for new generation lifestyles, including outdoor sports, online commerce, public commute, and NFT insurance for web3 activities. The YAS platform is designed to be user-friendly, transparent, and eco-friendly, providing a seamless experience for users. To enhance the protection offered by YAS, the company has teamed up with Amodo, a telematics insurtech firm, to offer autonomous insurance on-chain. This collaboration is a significant step towards the new age of insurance, especially in smart cities, where the use of smart technologies is becoming increasingly prevalent.

Amodo’s telematics technology generates deep data insights that will help YAS address users’ risks more effectively, improving their protection. The partnership between YAS and Amodo is based on a shared goal of revolutionizing the insurance industry and integrating it with smart technologies. The two firms believe that the future of insurance lies in autonomous insurance on-chain, and they are leveraging their expertise to create a global platform that offers machine-to-machine and human-to-machine protection.

By integrating Amodo’s telematics engine with YAS’s eco-friendly insurance blockchain, the partnership will automate and streamline the underwriting process, providing greater transparency and data ownership for users. Autonomous insurance on-chain has several advantages over traditional insurance models.

First, it eliminates the need for intermediaries, reducing the cost of insurance and increasing transparency. Second, it uses smart contracts that are self-executing and tamper-proof, ensuring that claims are processed quickly and efficiently. Third, it leverages blockchain technology, which is secure, decentralized, and immutable, providing a robust platform for insurance transactions. The emergence of autonomous insurance on-chain is a significant development in the insurance industry, and it has the potential to transform the way insurance products are offered and consumed.

This new trend is particularly relevant in the context of smart cities, where the use of smart technologies is becoming increasingly prevalent. Smart cities rely on the Internet of Things (IoT) to connect devices and sensors, enabling real-time data collection and analysis.

This data can be used to enhance the safety and well-being of citizens, as well as to improve the efficiency of various services. In conclusion, the partnership between YAS and Amodo is a significant step towards the new age of insurance, especially in smart cities. The emergence of autonomous insurance on-chain is transforming the insurance industry, providing innovative and user-friendly insurance products that meet the evolving needs of modern consumers. As we transition from the old and web2 world to web3, YAS’s vision of autonomous insurance on-chain to the world is becoming increasingly relevant, paving the way for a more interconnected future of smarter and greener cities.