2020

21.04.2020 – Helvetia Holding AG

Adresta becomes an independent start-up

Media release

St.Gallen, 21 April 2020

Adresta becomes an independent start-up

Helvetia Insurance is spinning off the start-up Adresta. The fledgling enterprise launched under the Helvetia Kickbox programme makes all the key stages of the watch lifecycle accessible to manufacturers, merchants and buyers on a blockchain. This eliminates counterfeit and stolen goods and increases transparency on the watch market.

As part of its helvetia 20.20 strategy, Helvetia Insurance set up a corporate incubator programme. The aim is to develop new business models through to the stage where they are ready for market. Adresta is another start-up from this programme to gain its independence. Adresta’s aim is to digitalize the luxury watch lifecycle. This involves using blockchain technology to make all the key stages of the watch lifecycle available to manufacturers, merchants and buyers in digital form. Second-hand buyers in particular are often uncertain about the authenticity and origin of a watch. Adresta provides certainty and confidence. Every watch made by an Adresta partner can be identified beyond doubt and verified as an original. At the same time, counterfeit and stolen goods are identified and eliminated from the watch market.

All parties benefit from increased transparency

It is not just watch buyers who gain from Adresta; the new technology offers benefits for all parties. It enables manufacturers to better forecast revenues and unit sales. And during the manufacture of specific models, errors can be identified and more swiftly rectified. Insurance companies, on the other hand, have easier access to the origin and specifications of an expensive luxury watch. These benefits have already won over the first watchmaker, with Adresta gaining its first customer in Czapek & Cie.

Developed at Helvetia

Helvetia employee Michal Behr and other team members submitted the idea for Adresta under the Helvetia Kickbox programme. The conceptual design was then worked out by the later founders Mathew Chittazhathu and Nicolas Borgeaud and the original team. The team developed an initial technical solution together with the ETH juniors. Leonie Flückiger, the project manager at ETH juniors, subsequently joined the founder team as CTO. "The internal support given to new business ideas also makes Helvetia more innovative and is part of an extensive working relationship with start-ups and fledgling enterprises. This enables Helvetia to develop its core business, tap new business models and make targeted use of innovations", says Martin Tschopp, Head of Corporate Development at Helvetia.

Caption: The founders of Adresta: Mathew Chittazhathu, Leonie Flückiger and Nicolas Borgeaud

This media release is also available on our website www.helvetia.com/media

For further information please contact:

Media

Jonas Grossniklaus

Senior Manager
Corporate Communications & PR

Phone: +41 58 280 50 33

media.relations@helvetia.ch

Adresta

Mathew Chittazhathu

Co-Founder, CEO

Phone: +41 76 343 99 11

m.chittazhathu@adresta.ch

About the Helvetia Group

In over 160 years, the Helvetia Group has grown from a number of Swiss and foreign insurance companies into a successful international insurance group. Today, Helvetia has subsidiaries in its home market Switzerland as well as in the countries that make up the Europe market area: Germany, Italy, Austria and Spain. With its Specialty Markets market area, Helvetia is also present in France and in selected regions worldwide. Some of its investment and financing activities are managed through subsidiaries and fund companies in Luxembourg. The Group is headquartered in St.Gallen, Switzerland.

Helvetia is active in the life and non-life business, and also offers customised specialty lines and reinsurance cover. Its business activities focus on retail customers as well as small and medium-sized companies and larger corporates. With some 6,800 employees, the company provides services to more than 5 million customers. With a business volume of CHF 9.45 billion, Helvetia generated an IFRS result after tax of CHF 538.1 million in financial year 2019. The registered shares of Helvetia Holding are traded on the SIX Swiss Exchange under the symbol HELN.

Cautionary note

This document was prepared by Helvetia Group and may not be copied, altered, offered, sold or otherwise distributed to any other person by any recipient without the consent of Helvetia Group. The German version of this document is decisive and binding. Versions of the document in other languages are made available purely for information purposes. Although all reasonable effort has been made to ensure that the facts stated herein are correct and the opinions contained herein are fair and reasonable, where any information and statistics are quoted from any external source such information or statistics should not be interpreted as having been adopted or endorsed as accurate by Helvetia Group. Neither Helvetia Group nor any of its directors, officers, employees and advisors nor any other person shall have any liability whatsoever for loss howsoever arising, directly or indirectly, from any use of this information. The facts and information contained in this document are as up to date as is reasonably possible but may be subject to revision in the future. Neither Helvetia Group nor any of its directors, officers, employees or advisors nor any other person makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document.

This document may contain projections or other forward-looking statements related to Helvetia Group which by their very nature involve inherent risks and uncertainties, both general and specific, and there is a risk that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include: (1) changes in general economic conditions, in particular in the markets in which we operate; (2) the performance of financial markets; (3) changes in interest rates; (4) changes in currency exchange rates; (5) changes in laws and regulations, including accounting policies or practices; (6) risks associated with implementing our business strategies; (7) the frequency, magnitude and general development of insured events; (8) mortality and morbidity rates; (9) policy renewal and lapse rates as well as (10), the realisation of economies of scale as well as synergies. We caution you that the foregoing list of important factors is not exhaustive; when evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties. All forward-looking statements are based on information available to Helvetia Group on the date of its publication and Helvetia Group assumes no obligation to update such statements unless otherwise required by applicable law.


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