TADA’s over 150,000 users and 22,500 drivers will stand to benefit from partnership
MVL Foundation Pte. Ltd. (Mass Vehicle Ledger, MVL) and AXA Insurance (AXA) announced today a strategic alliance to develop and deliver innovative and value-enhancing mobility insurance products and services for TADA’s users and drivers.
From early 2019, AXA will be MVL’s preferred partner to offer insurance products to the drivers and riders of TADA, Singapore’s first and only zero-commission ride-hailing platform. MVL and AXA will also explore technical integration to create next-generation mobility insurance products and services leveraging MVL’s blockchain.
“Since introducing our zero-commission ride-hailing service in Singapore, TADA has positively impacted the lives of thousands of riders and drivers. We expect this partnership with AXA to unlock the vast value created for the parties in our ecosystem. With AXA being a leading insurer at the digital forefront, we are confident that both companies can leverage on our technical know-how and market expertise to deliver the future of mobility insurance to the world,” said Kay Woo, CEO of MVL.
The top global insurance brand for the tenth consecutive year, AXA is at the forefront of digital transformation in the insurance industry and was the first insurer in Asia to launch end-to-end insurance transactional APIs that made Insurance-as-a-Service a reality.
“We are excited to team up with an innovative company such as MVL. MVL’s mission to be a true partner to its community of drivers and riders is aligned with AXA’s transformation from being a payer to being a partner who empowers our customers to live better lives. Together, we look to deliver insurance protection and services to MVL’s ecosystem, and offer convenience and value through innovative technological solutions,” said Leo Costes, Managing Director, Retail, and Chief Customer Officer, AXA Insurance.
With MVL, AXA plans to roll out more innovative offerings catering to the needs of self-employed drivers on TADA’s platform as well as to embed itself in the customers’ journeys, where transportation plays a big part.
More information on the partnership will follow in the first quarter of 2019.
For more information on TADA, please visit our website.
For Media Queries:
Prospr Communications (For MVL)
Chong Yoke Ming
Phone: +65 9376 3228
MSL Singapore (for AXA Insurance)
Phone: +65 6653 1718
Phone: +65 9787 0745
About MVL Foundation Pte. Ltd. (“MVL”)
MVL is an incentive-based mobility blockchain protocol that powers TADA, Singapore first blockchain-based zero-commission ride-hailing application. Key mobility data such as transactions, movements, accidents, and maintenance of people and vehicles in many fields are recorded and connected in a single MVL ecosystem. Since its launch in July 2018, TADA has been used by more than 22,500 drivers and 150,000 users in Singapore. TADA is expected to be rolled out in key Southeast Asian countries such as Vietnam, Cambodia, Malaysia in the coming months. MVL is a wholly-owned subsidiary of easi6 and is a Singapore private limited company.
About AXA Insurance
AXA Insurance is part of the AXA group, a worldwide leader in insurance and asset management, and the world’s leading insurance brand for the tenth consecutive year, with 160,000 employees serving 105 million clients in 62 countries. Present in Singapore since 1969, AXA Insurance has been serving the general and life insurance needs of individuals and companies in Singapore through a wide range of innovative products. As one of the top global insurers in Singapore, AXA Insurance protects more than a third of a million customers in Singapore. As a company whose business is about protecting people, AXA Insurance is committed to building a stronger and safer society by empowering customers to live better lives.
For more information, please visit www.axa.com.sg.