Tokyo Marine Holdings will be assisted by Harel in finding Israeli products in the innovate and digitalization fields * The companies will cooperate in many areas in the worlds of customer service and assimilation of technological systems
Harel and the Japanese insurance giant Tokyo Marine Holdings will be collaborating in seeking out Israeli hi-tech companies in the areas of innovation and digitalization. According to the agreement, Harel and Tokyo Marine will work together to find Israeli companies involved in innovative technologies and services, and Harel will have access Tokyo Marine’s leading technological infrastructure. The collaboration was led by the Deloitte consultancy firm.
The two companies will work together in seeking out innovative products and services in the areas of health, cyber, distribution and customer experience, which will be combined with core insurance activity. The companies will also be sharing knowledge in many areas of customer service and from the world of assimilation of technologies for improving the customer experience, fast payment of claims, including joint study of the cyber world.
Tokyo Marine is one of the world’s leading insurance corporations. The company was founded in 1879 and currently operates in 38 countries around the world. Its annual revenues in 2018 totaled 4.6 trillion yen (150 billion dollars).
Tokyo Marine has in recent years set up a subsidiary company, the Tokyo Marine Innovation Lab, which is involved in seeking out and developing innovative technologies that support the expansion of its businesses around the world. The subsidiary company has set up development centers for the purpose in Tokyo, Taiwan, Singapore and in the Silicon Valley in the USA and is trying to expand into other countries. As a result of the agreement, representative of the insurance corporation will be coming to Israel already in the coming months to visit and examine technologies.
Taking part in the signing ceremony were: Tokyo Marine senior VP and head of its strategic and digital activity Makoto Okoda and Harel Chairman Yair Hamburger.
The Harel group will enable startups to gain exposure via an arrangement with Tokyo Marine to investors in Israel and around the world, via joint ventures that the companies will manage jointly.
Makoto Okada: “We are looking for innovative solutions and technologies in collaboration with our partners around the world, and we are proud to be announcing the new collaboration with a leading insurance company such as Harel. We see Harel as a bridge and a link to Israeli innovation”.
Harel Insurance and Finance Group CEO Michel Siboni: “The agreement will enable the assimilation of additional advanced technological developments for the benefit of Harel’s agents and customers, whilst strengthening its position in the various markets. The entry of the Japanese corporation into investment activity in the area of hi-tech in Israel, represents huge potential for Israeli startup entrepreneurs and companies, who have developed products and services in the insurtech sector”. Siboni stressed: “We at Harel are looking and marching forward. We identify technological opportunities and integrate them in a manner which benefits our customers and agents. The agreement with Japan’s biggest insurance company will push it forward in seeking out trends and entering new markets”.