buzzvault, the world’s first digital asset vault to be built on the blockchain has won the highly prestigious DIAmond Award at the Digital Insurance Agenda in Amsterdam this week. The award came after Becky Downing, CEO of buzzvault and Charlotte Halkett, Managing Director of Insurance Product took to the stage to deliver a pitch on the unique proposition of buzzvault at the annual event. DIA showcases the best insurtech talent globally and was attended by 1200 finance and insurance executives who delivered over 50 pitches across the 2-day event.
buzzvault was recognised as being truly pioneering in its strategy to leverage data and technology to create the world’s first truly personalised home insurance policy based on a digital inventory of a customer’s home contents.
Becky Downing, CEO of buzzvault said: “DIA provides a showcase for 50 of the world’s most innovative new technology providers, poised to disrupt the insurance industry. To be counted amongst this group is a serious honour. But then to win this highly coveted award is real vindication for all we have achieved in our mission to fix the broken home insurance market.
“Through the buzzvault contents data we collect, we will know exactly what we are insuring, eliminating the risk of underinsurance whilst promising customers a transparent, speedy claims service should they need to make a claim. We are on track to launch in Q3 2018, underwritten by one of the world’s leading re-insurers.”
Using video survey technology, buzzvault will work by enabling house-holders to create a highly secure, updateable log of all their home contents, so that they will know the value of what they own. They will then be able to use this to secure home insurance based on exactly what they want covered. This will be the first time house-holders will be offered this level of control and transparency over their home insurance.