“Today, in Israel, everything can be purchased with health coins. In fact, we created a new economy – a health-based economy“, says Alon Silberberg, CEO of Yuvital, the developer of Rumble.
Rumble is a digital solution built for insurance companies that mitigates risks, gathers and analyzes unbiased health and behavior data with increased accuracy, deepens customer relationships, and creates a positive digital experience by using social, psychological and economic incentives to lead a more healthy and active lifestyle for policyholders.
How can you improve one’s health with a smartphone Application?
Silberberg: We have developed a mobile app that allows us to reward any customer or potential customer for having an active and healthy lifestyle.
With the help of the smartphone, we can collect and analyze different user information points and thus get to know him better.
Then, through changes and customizations in the app interface, we can tailor the incentive type to the client`s personality for maximum impact.
Our system is based on machine learning, theories of psychology and behavioral economics, and the identification of patterns of behavior.
All to make the mobile device a platform that will create end-user motivation in the first phase and perseverance in the second phase towards a continuous change in his lifestyle.
The user gets not only his health improved, but also financial benefits. How does that work?
Silberberg: In fact, we allow the user to convert various health and physical fitness metrics into digital health currencies (DHC’s). From the other side, we specialized in creating an eco-system tailored to each user, according to his preferences, and a budget is given to us by the managing company. Today, in Israel, for example, everything can be purchased with health coins – from breakfast through personal training and a subscription to the gym to books and flowers. In fact, we created a new economy – a health-based economy.
What kind of companies are you currently working with?
Silberberg: We currently work with the largest companies and wellbeing organizations in Israel, private and international companies, and employee committees as each customer’s size vary from many hundreds of employees to hundreds of thousands of members.
Also, we plan to launch several collaborations with health agencies and organizations around the world during these months.
What Value can you provide to insurance Companies?
Silberberg: Our system saves insurance companies` money, increases profitability, and improves the digital user`s experience for their clients.
In a few more words, as we now see it, traditional insurance companies do an excellent job of assessing and analyzing risks. However, the vast majority of companies today lack three primary parameters:
- Access to real-time information.
- 2. Decision-making mechanismthatis based on real-time dynamic information.
- 3. Digital, personal, and direct contact with the prospect or client.
Rumble does just that.
We enable insurance companies to get to know their customers in-depth in the first stage, to create a personalized information-driven and second-stage approach, and to improve their lifestyle in the third stage.
In doing so, we can help save claims costs, increase loyalty and improve the retention rate.
What is your estimation on the financial effect that Rumble can have on an insurance company?
Silberberg: Rumble as a system can save tens of millions of dollars a year when it comes to claims costs and increase revenue from selling additional insurance products, identifying and retaining healthier customers and, as a result, saving on marketing and user costs as well.
You started your activity in Israel. When and how do you plan to go abroad?
Silberberg: We are currently promoting collaborations and are in various stages of implementation with several customers in the global market.
In our estimation, we will launch a first collaboration outside the borders of Israel already in Q3 this year.
What investments were made in the company?
Silberberg: To date, we have raised about 700,000$ in pre-seed investment and are in the process of another round of funding these days.
It is important to understand that the company generates revenue from the first day of operations and our revenue growth from 2018 to 2019 was just over 1200%.
Tell me about your professional and personal background, and tell me about other key figures in your company.
Silberberg: The company’s founding team consists of Lior Klibansky, our CTO who comes with over 20 years of experience in the development world, from writing a hands-on code to managing a development group in an international company.
Our additional partner is Yaron Levy, our VP R&D comes with 10 years of experience in the software worlds over 5 of them developing complex digital medical management systems.
I am the CEO of the company, and for the past 10 years, I have been leading teams – starting with commanding a company in a special unit in the IDF and in recent years, leading teams in private companies.
With us on board are Eli Dahan, a serial entrepreneur and digital health investor, Tomer Nitzan, CEO of Israel’s leading company in leading healthy lifestyle management in organizations, Dr. Guy Hochman – Behavioral Economist and Behavioral Economics Program Manager at IDC, and Prof. Shahar Eyal – Social Psychologist and Program Director at IDC.
