LiquidX’s Digital Trade Credit Insurance platform was selected for recognition at the annual awards, which celebrate groundbreaking solutions that transform industry practices.

 The Monetary Authority of Singapore (MAS) has named LiquidX Insurance Services (Singapore) Pte. Ltd. a finalist for the Singapore FinTech Festival (SFF) Global FinTech Awards 2021 in the Singapore Financial Institution category. The awards are a highlight of the annual festival, which takes place November 8-12, 2021.

The SFF Global FinTech Awards, supported by PwC Singapore, recognize ground-breaking solutions that have enabled the financial sector to rebound from the impact of the pandemic, including initiatives that have helped create new growth opportunities, transform industry practices, and promote financial inclusion. The theme for this year’s Awards is “Emerging from a pandemic, the road to recovery.”

The Singapore Financial Institution award is granted to a regulated Singapore institution whose Singapore office must have contributed to the implementation/deployment of the solution in at least one ASEAN country in the past three years.

The LiquidX Digital Credit Insurance solution is a platform for Trade Credit Insurance policy quoting, policy management, and risk monitoring, saving policyholders, carriers, and brokers time and effort. LiquidX digitizes and optimizes the management of Trade Credit Insurance policies by cross-referencing policy terms and conditions, authenticating the eligibility of endorsed buyers, and automating policy reporting requirements to help ensure policy compliance.

“On behalf of the entire LiquidX team, we would like to express our sincere appreciation to the panel for recognizing our achievements,” said Alex Bursak, Director and Regional Head of Insurance Asia Pacific at LiquidX. “We are really proud of our momentum in Singapore in 2021. In June we were granted our insurance brokerage license by MAS, in August the first Singapore-based insurer joined our platform, and in October we launched the pilot of our groundbreaking InBlock Digital Trade Credit Insurance solution. We are confident our innovative solutions will benefit companies, insurers, and insurance brokers in Singapore and across the region.”

Todd Lynady, Global Head of Insurance, added, “We are especially proud of this recognition given Singapore’s position as a major hub for FinTechs and InsurTechs globally. InBlock Digital Policy Management is truly a game-changer for the Trade Credit Insurance industry.”

Winners of the Singapore FinTech Festival Global FinTech Awards 2021 will be announced November 11.