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Girls’s World Banking, AID:Tech, and Binance Charity Basis signal memorandum of understanding (MOU) to design new expertise platform to speed up scale of Caregiver microinsurance product
New York, USA – November 8, 2019 —Girls’s World Banking, AID:Tech, and Binance Charity Basis at present introduced a partnership to design a brand new expertise platform to drive the acceleration of Girls’s World Banking’s Caregiver microinsurance answer to 2 million uninsured and underinsured girls in additional than ten rising markets. This enlargement is generously supported by Swiss Re Basis.
Caregiver is a straightforward, reasonably priced microinsurance product that gives life safety and a money profit after hospitalization, together with for maternal well being, that prospects can use for a spread of wants, together with for misplaced wages or having to shut their companies. In contrast to conventional medical insurance coverage through which the insurance coverage plan reimburses for the price of medical therapy and the cash goes to the supplier, Caregiver pays money on to the claimant.
To allow Caregiver to be delivered at scale, Girls’s World Banking, AID:Tech and Binance Charity Basis signed a MOU to deal with one of many largest boundaries to scale: the design and implementation of a expertise platform. Monetary service suppliers providing microinsurance on to prospects usually don’t have the programs in place to successfully ship microinsurance and monitor efficiency. Time, assets, and bills are required to construct a system that works for monetary service suppliers and delivers a profitable shopper expertise.
“Though Girls’s World Banking has reached greater than 2,000,000 folks with its Caregiver microinsurance answer, we acknowledge we will transfer quicker and additional by addressing probably the most vital bottlenecks to implementation: the expertise platform that makes use of the newest cutting-edge instruments,” mentioned Gilles Renouil, Director of Microinsurance Options at Girls’s World Banking. “We’re excited to hitch forces with AID:Tech and Binance Charity Basis to harness our respective strengths to extend financial safety for girls and their households globally,” Renouil continued.
The longer term platform will discover open supply options and leverage current expertise supplied by AID:Tech and Binance Charity Basis. Blockchain and distributed ledger expertise is taken into account as an choice to facilitate quick transaction and guarantee transparency, in addition to AID:Tech’s Interoperable Digital Id so that ladies prospects will pay premiums immediately, personal and finally handle their knowledge, and monetary answer suppliers will pay claims expeditiously.
AID:Tech is a longtime supplier of Blockchain options and has constructed an Interoperable Digital Id Protocol (IDIP) which permits any Digital Id agent to operate on non-public and public Blockchains.
“Right now, we’re taking a important step ahead in our firm’s historical past. Partnering with main organizations that share the identical imaginative and prescient as AID:Tech is significant to our future success. This partnership will allow us to ship microinsurance at scale, whereas on the similar time permitting the ladies to personal, handle and ultimately monetize their very own identification metadata. We consider in a world the place folks determine how their knowledge needs to be used and wish to construct social and monetary inclusion by way of Digital Id. We’ve got admired each Girls’s World Banking and Binance Charity Basis for a very long time. And with out the imaginative and prescient proven by Girls’s World Banking none of this might be attainable,” mentioned Joseph Thompson, CEO and Co-founder of AID:Tech.
“I at all times consider that the great thing about expertise lies in its functionality to profit mankind. Binance Charity has at all times been in search of methods to make the most of blockchain expertise for social good. In our previous tasks, we used the idea of stablecoin to assist younger girls in Africa who are suffering interval poverty with sanitary pads. Now we now have the prospect to supply microinsurance service to 2 million girls. As a girl, to be sincere, I’m fairly glad that I can do these for my sisters. And I want to say thanks to Girls’s World Banking and AID:Tech for this chance so we will contribute to this nice trigger,” mentioned Helen Hai, Head of Binance Charity Basis, the blockchain-enabled charity platform initiated by the worldwide main cryptocurrency trade Binance.
For extra data, please go to: https://www.womensworldbanking.org/ https://help.expertise/ https://www.binance.charity/
Contact:
For Girls’s World Banking:
Karen Miller, +1.212.556.3149
[email protected]
For AID:Tech:
Joseph Thomposon, +65 8619 8086 / +353 83 8739712
[email protected]
For Binance Charity Basis:
[email protected]
About Girls’s World Banking:
Girls’s World Banking designs and invests within the monetary options, establishments, and coverage environments in rising markets to create larger financial stability and prosperity for girls, their households and their communities. With a worldwide attain of 53 companions in 32 international locations serving greater than 30 million girls shoppers, Girls’s World Banking drives impression by its scalable, market-driven options; gender lens non-public fairness fund; and management and variety applications.
About.AID:Tech:
Based in 2015, AID:Tech was the primary firm on the earth to ship worldwide help utilizing blockchain expertise and Digital Id. AID:Tech’s Decentralised Digital Id and Interoperable Digital Id Protocol permits digital property to be delivered by blockchain expertise in a very clear method.
AID:Tech is the present international winner of the Citi Tech4Integrity problem. It acquired the James Wolfensohn ‘Recreation-Changer’ award for firms utilizing expertise to battle corruption on the IMF from Madame Christine Lagarde. AID:Tech’s CEO Joseph Thompson additionally not too long ago acquired the Schwab Social Entrepreneur award and is the 2017 UN SDG Pioneer for Blockchain Expertise.
For extra data: https://help.expertise
About.Binance Charity Basis:
Binance Charity Basis is a nonprofit group, devoted to attaining international sustainable improvement by unlocking the ability of blockchain. BCF develops and assessments viable options that tackle the foundation explanation for social issues to information folks out of the poverty lure. The muse is initiated by Binance, the world’s largest cryptocurrency trade by buying and selling quantity, headed by Helen Hai, UNIDO Goodwill Ambassador, in collaboration with Marie-Louise Coleiro Preca, former President of Malta, because the Chair of the Advisory Board.
For extra data: https://www.binance.charity
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