Effectivate’s founder, Shai Granot, together with the game architect Anna Izoutcheev, presented a keynote talk titled “Cognitive Training: Opportunities for Insurers in the World of Neuro-Wellness”. MOI 2022 conference is the biggest European gatherings for innovators in the realm of insurance
Effectivate, an Israeli start-up that provides computerized cognitive training, participated in MOI 2022 – The Magic of Innovation conference, where the company had the opportunity to present its vision and accomplishments, and share some insights.
The conference, held annually in Vienna, is one of the biggest European gatherings for innovators in the realm of insurance, allowing decision-makers in this field to learn about new trends and exchange valuable knowledge.
Effectivate’s founder, Shai Granot, together with the game architect Anna Izoutcheev, had the honor of presenting a keynote talk titled “Cognitive Training: Opportunities for Insurers in the World of Neuro-Wellness”.
In the talk, Shai and Anna addressed the important issue of supporting the cognitive health of older adults, with emphasis on not only providing a better quality of life for the senior population, but also alleviating the burden on health providers, families, and insurance companies. A great deal of the financial burden is caused by indirect results of cognitive decline, such as falls (and subsequently hip fractures), car accidents and forgetfulness with medications.
In their talk, Granot and Izoutcheev explained the cognitive basis underlying these phenomena, and presented scientific evidence for the possible benefits of personalized cognitive training: delaying dementia, reducing at-fault car crashes, prolonging independent living, improving gait (which is correlated with falls), and increasing self-esteem – all of which are factors that influence general health and quality of life.
Those findings are highly encouraging, especially when considering the fact that 40% of worldwide dementia cases are explained by modifiable factors.
The product was designed with a user-centered approach; by putting the seniors and their sensory, cognitive, and technological needs first, Effectivate strives to boost their motivation and form a new habit of a daily workout for the brain.
About the company:
Effectivate provides computerized cognitive training. We are considered a pro-aging product and we operate in one of the fastest-growing markets today – the ageTech market. Our product is a SaaS product that is considered a wellness product and as such, doesn’t require any regulatory compliance. As of today, the product is marketed to 55+ audiences who are healthy and active and want to cater to its brain health and overall brain sharpness.
Effectivate is setting a new standard for computerized brain training by providing cutting-edge personalized brain training for older adults and helping them maintain their cognitive abilities and quality of life. Brain training has been shown to strengthen neural networks related to cognitive functions and create a cognitive reserve, thus supporting the prevention of cognitive decline mainly caused by age.
Our program also provides strategic techniques (mnemonics) aimed to compensate for memory deterioration. Our product consists of a course that teaches memory strategies that can be implementable in many situations and gives immediate tools to use in everyday life to boost confidence, independence, and mental clarity.
What sets us apart from the rest of the companies on the market, is the fact that our product is catering to the specific needs of the senior population as technological users, instead of using the one-size-fits-all approach.
Furthermore, our company is the only one that provides a holistic product for brain training. By combining years of research, personalization of the training to each individual, and providing techniques and strategies for everyday lives, we are able to increase the elderly’s quality of life.
Cognition and overall well-being is at the center of healthy aging, and this is what allows people to be more in charge of their lives. People who cater for their cognition are expected to live longer, live healthier and be at reduced risk for diseases, falling and car accidents.
Effectivate was established in 2018 and has been selling its product since September 2019. The product is dynamic and as such, we keep on developing new features and enriching the content all while implementing the changes in real-time for the benefit of our customers.
Ever since the MVP was launched to the market we were able to achieve the following:
· Over 10,000 sold licenses
· Over 6M$ revenue
· ARR of 4.2M$
· Added a new channel of distribution and moved from b2c to also b2b2c with a distribution agreement with Clalit the biggest HMO in Israel.