Award-winning entrepreneur Jaskanwar Singh has set his sights on decentralizing the reinsurance industry with the launch of a crypto reinsurance company dubbed UnoRe.
An Entrepreneur With a Successful Track Record
Singh has enjoyed a fast rise to the top in what is still a relatively young career. The CEO of UnoRe began his career at the young age of seventeen when he won the Assistive Tech Hackathon organized by tech giants Microsoft in his first year of college.
Subsequently, Singh and his team worked on a novel decentralized car trading platform built on blockchain, resulting in another victory at the Seaside Startup Summit in 2018. The innovation also secured them another win at the NEM Blockchain challenge in 2019.
Following his initial success, it was only natural that Singh created his own tech solutions company Audace Labs. In three years from inception, the company, an innovation-based venture, reported annual revenue growth of 60%, making it one of the fastest-growing sectors.
During this period, Audace Labs has partnered with Middle East industry giants, including airline carrier Emirates and telecommunications juggernaut Etisalat. Audace Labs is considered one of the top technology partners for SMEs in the Middle East.
Besides this, Singh also served as CTO to Sehteq, the fourth largest Insurtech in the Middle-East. He became the youngest to ever hold the position in the entire region and transformed the company’s fortunes.
Singh championed the re-launch of Sehteq’s Online portal leading to a record-breaking growth of 2000% in revenue. He also engineered the region’s first Build Your Own Insurance Plan.
“Technology is moving faster than ever, and it is my goal to use this growth to make the complicated simple, the future possible, and to change people’s lives through innovative products and services that really impact them in their day to day. It’s a big bold claim, but one I’m fortunate enough to be working towards achieving every day,” said Jaskanwar Singh, CEO and Co-Founder of UnoRe.
UnoRe a Transformative Project
Singh wants to continue his ground-breaking drive towards the advancement of technology in the MENA region with his next venture UnoRe. UnoRe aims to be at the forefront of decentralizing the entire reinsurance industry.
Reinsurance has gained more relevance since the Covid-19 pandemic that disrupted global economics. It essentially refers to the insurance for insurers. It has gained prominence since it dilutes risk further and allows insurance companies to take on large, risky clients.
UnoRe looks to implement reinsurance policies and products using blockchain technology which improves traditional reinsurance practices. The blockchain platform will provide crypto-based reinsurance products with a second layer of protection. It will also ensure that travel insurance will be easily accessible to all.
UnoRe aims to achieve its goals by developing a unique ecosystem built to serve traders, investors, and innovators. The products will be easy to use, based on web 3.0, and accessible to everyone.
UnoRe will deploy a decentralized governance system built on the smart contract network Polkadot. UnoRe promises much and looks to be the next major player in the reinsurance sector in the coming months.