from the left: Kobi Bendelak and Shay Michel
The selection process for the 10th cohort of The Israeli InsurTech Accelerator marks another significant milestone in the development of one of the world’s leading platforms for innovation in the insurance sector. After a year in which the program was recognized as the leading insurtech accelerator in the world, the level of expectations naturally rose accordingly – and the latest selection process met them and even exceeded them. The event took place at the offices of Migdal Group, one of the partners of the program, and enabled a unique meeting between insurance companies, international partners, and insurtech entrepreneurs – around one shared goal: to turn innovation into real solutions for the insurance world.
11 selected insurtech companies took the stage, with each presenting a different innovative angle across the insurance value chain – from underwriting and claims management to solutions based on data and artificial intelligence. Alongside this, InsurTech Israel congratulated the companies selected to participate in the festive 10th cohort of the accelerator – LepreCon, Hear.AI, Vyntic, Rubric, ClearPass and Cloud Wise. According to the management of the program, the very selection to join this cohort out of a highly competitive and high-quality screening process constitutes a significant achievement, and reflects great confidence in the companies’ potential, in the quality of the entrepreneurs, and in their ability to create real impact on the future of the insurance industry in Israel and around the world.
The companies were evaluated by a senior and experienced judging panel, which included: Shay Michel (Migdal), Eli Azoulay (Sapiens), Daniel Sharon (Milliman), Tali Evron (Aon), Tal Langevich Avraham (Migdal), Ofir Shalom (AIG), Heli Mirel (Direct Insurance), Ari Katz (BEA Venture), Eric Gewirtzman, Kobi Bendelak (InsurTech Israel), Dr. Yael Benvenishti, Tali Kaplan Porat (Sapiens), Natali Rotem (Gross Orad Schlimoff Law Firm, representatives of Lloyd’s in Israel), and Leor Catalan (PassportCard).
The combination of the judges’ knowledge and experience enabled an in-depth examination of the solutions – not only from the aspect of innovation, but also in terms of business feasibility, market fit, and ability to be implemented in the complex insurance world.
One of the prominent characteristics of the current cohort is the maturity level of the companies. Many of them are not only at the idea stage, but already present proven business activity, existing customers, and the ability to expand into international markets. This trend reflects a deep change in the insurtech market – a transition from the stage of experimentation and promise to the stage of actual implementation and creation of real value for traditional players.
This approach, which combines technological innovation with deep business understanding, is what allows the program to stand out on the international stage. To date, graduates of The Israeli InsurTech Accelerator have raised more than $200 million and signed more than 40 commercial collaborations with leading insurance companies worldwide.
Behind the success of the program also stands a broad partnership network with leading players in the global industry, among them: Migdal Group, AIG, IAG, Lloyd’s, Aon, Unum, AF Group, BrokerTech Ventures, Direct Lab – Innovation Hub by IDI (Direct Insurance), Sapiens, Milliman, McDermott Will & Schulte, Firemark Ventures, Gross Orad Schlimoff Law Firm, and PassportCard.
These partners are not only supporting the activity, but also take an active part in creating the connections between startups and the market and assist in accelerating technology adoption processes.
The 10th cohort arrives at a critical time for the insurance industry. Growing pressure from digital customers, regulatory changes, and new challenges such as climate and cyber risks – all require traditional players to adopt innovative solutions at a faster pace than ever before. Insurtech is no longer an addition – but an integral part of the strategy of insurance companies.
In this context, The Israeli InsurTech Accelerator serves as a bridge between innovation and industry, connecting startups from around the world with insurance companies, investors, and strategic partners – while creating a work environment in which ideas quickly become collaborations and implemented solutions.
According to Kobi Bendelak, CEO of InsurTech Israel:
“After a year in which our program was chosen as the best in the world in the field of insurtech, the 10th cohort is a direct continuation of the momentum we built. To see the quality of the companies, their level of maturity, and the real connection to the needs of insurance companies – this proves that insurtech is no longer on the sidelines, but at the heart of the activity of the global industry. Our role is to continue creating the connections that enable this innovation to happen in practice.”
According to Shay Michel, Deputy CEO and Head of Technology Division at Migdal Group:
“Migdal sees technology and innovation as a strategic engine for growth, efficiency, and the creation of business value. The information systems are responsible for all of the company’s core systems, infrastructures, and platforms, and therefore our responsibility is not only to ensure stability and ongoing operations, but also to lead the development, renewal, and capabilities that will allow Migdal to continue leading in a world of insurance that is changing rapidly.
Michel further added that, “The connection to the accelerator program allows us to be exposed early to technologies and solutions with real potential, and to examine how they can be connected to the business needs of the company and generate value from them on a broad scale.”
