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Otonomi & Sila: At a Glance
A transformative software based on smart contracts that drastically improves insurance automation in logistics
CEO and co-founder of Otonomi, Yann Barbarroux, experienced something that many travelers go through—on a routine trip in Europe, his baggage was lost. However, Yann realized something in the one year of waiting to receive compensation for the lost items—this process can be expedited and improved!
Yann also had some previous interest in blockchain technology. When he discovered blockchain technology in 2003 with his now partner Sebastian, he realized that blockchain can be applied in unique areas, even going so far as to program a smart contract to support common insurance needs.
With this idea, and inspired to do something to support the logistical and transport frustrations exacerbated by COVID, Otonomi was born. A smart contract-based insurance program, Otonomi adjudicates clients in something like 45 minutes rather than 45 days, compressing administrative costs by up to 90%.
Read about how Sila is helping this transformative technology. #PoweredbySila