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"Theft of valuable items" embedded insurance

Product & Service Innovation 2021

Elevator pitch

Wakam has created an innovative embedded insurance for valuable goods, that is automatically integrated into a digital certificate of authenticity.

Innovation Presentation

Wakam partners with GoodsID to create an innovative embedded product. When a customer purchases a valuable item, insurance is automatically embedded in their certificate of authenticity.

The unique certificate of authenticity is stored in the GoodsID blockchain, which activates the insurance at the same time. In case of theft by break-in or assault, the customer reports the theft to the police station and makes the report to GoodsID within his personal space. Wakam automatically verifies the declaration and deposits the amount of compensation in its blockchain. After validation by GoodsID, an automatic declaration is made via API to Wakam. At the same time, GoodsID instructs the luxury goods company to recreate the item of identical val…

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