OneDegree unveils AI-powered platform for Web3 risk protection
OneDegree unveils AI-powered platform for Web3 risk protection | Insurance Business Asia
Technology
OneDegree unveils AI-powered platform for Web3 risk protection
Company also bolstered protection for digital assets in UAE
Technology
By
Roxanne Libatique
Digital insurer OneDegree has announced several new initiatives aimed at strengthening risk management in both the Web3 and cybersecurity sectors.
The company has launched MAMORI.AI, an artificial intelligence-driven platform for managing Web3 risks. It has also partnered with Dubai Insurance to introduce digital asset custodial risk insurance in the UAE.
MAMORI.AI: Web3 risk intelligence solution
MAMORI.AI is designed to meet the evolving risk management demands of the decentralised Web3 ecosystem.
Key features of the platform include:
the detection of fake announcements
warnings about “rug pulls” where developers abandon projects
alerts for market manipulation
The system also monitors cybersecurity vulnerabilities and automates compliance checks to ensure projects meet regulatory standards.
Alex Leung, co-founder of OneDegree, said the initiative aims to equip Web3 participants with the necessary tools to manage risks in this fast-evolving space.
“As the Web3 revolution advances, MAMORI is here to ensure that the future is not only promising but also accessible and safe for everyone,” he said.
The company offers a 14-day trial of the platform, and regulators can access the system for free through the Elite Regulator Program, which aims to support regulatory oversight in the decentralised space.
Custodial risk insurance for digital assets in UAE
In partnership with Dubai Insurance, OneDegree has launched digital asset custodial risk insurance in the UAE.
This product provides coverage for risks such as third-party hacks, internal fraud, and physical damage to digital asset storage systems.
Custodial risk insurance is increasingly required by regulators, including Dubai’s Virtual Assets Regulatory Authority (VARA), to ensure the security of digital asset companies.
Robin Scott, general manager for OneDegree in the Middle East, noted that the UAE is becoming a leading hub for digital assets.
“UAE has only strengthened its position as a digital asset hub since our market entry last year. There are hundreds of companies setting up across the Emirates and looking to obtain key licences,” he said.
Abdellatif Abuqurah, CEO of Dubai Insurance, added that the partnership aims to address the growing demand for specialised insurance products in the UAE’s digital asset market.
“Custodial risk insurance is something brand new to the market, but that satisfies an urgent demand as UAE cements its position as a global leader in digital assets,” he said.
This platform offers a Reinsurance-as-a-Service (RAAS) model, integrating real-time cyber risk assessment into the insurance process.
The platform’s cyber risk exposure scanning tool allows insurers to assess the security posture of potential clients in under a minute, with policy issuance possible in less than 10 minutes for qualifying small and medium-sized enterprises.
The system is designed to streamline the insurance process, making it easier for businesses to obtain coverage quickly in response to growing cyber threats.
