The Insurtech Israel venture capital investment fund, which specializes in insurtech, is planning a meeting between Israeli startups and United Arab Emirates insurance companies and investors. A list of 10 selected startups is currently being put together from the local industry. From the Emirates side, the largest insurance companies are expected to be taking part, including the headquarters of international insurers based in the Emirates.
Insurtech Israel CEO and founder Kobi Bendelak said that the insurance scene in the Emirates is similar to that in Israel, but is most characterized by construction and industrial risks. He added that the area of individual insurances is highly developed in the Emirates and it leads the rest of the Gulf countries in deepening the use of insurance. According to Bendellak, the insurtech world in the Emirates is very advanced and there are no few entrepreneurs. The insurance companies in the Emirates also want to be part of the process and are interested in investing in Israeli startups, alongside local investment bodies who are interested in expanding their mix of investments. Israel is regarded as a leading player in the insurtech world and there is much interest in this activity.
In the initial stage the conference will be held virtually, with Insurtech Israel planning a physical conference in February. The Virtual Event will take place on Wednesday, November 25th.
Since our inception in 2004, the DIFC has been committed to becoming a leading global financial hub. Recognised as a world-leading international financial centre, DIFC is the highest ranked financial hub in the MEASA region. With over 2500 companies, over 200 Fintech firms, a community of over 26,000 employees and a market size of over USD 700 billion, DIFC is on track to achieve its 2024 vision.
In 2017, DIFC launched the region’s first FinTech Accelerator – The Hive – and has subsequently built the region’s most comprehensive FinTech and venture capital environment, including cost-effective licensing solutions, forward-thinking regulation, innovative accelerator programmes, and funding for early and growth-stage start-ups.
DIFC has pivoted towards innovation and our vision is to now drive the future of finance. DIFC will embrace and harness change and innovate for growth, fueled by our commitment to FinTech, new infrastructure development and sustained focus on boosting trade links with other regions of the world, including the UK.
InsurTech Israel is Investment fund and boutique strategy consultancy dedicated to engendering innovation in the insurance industry. Immersed in the flourishing ecosystem that is Israel, our extensive network and deep industry knowledge are just some of the tools that we employ when connecting global (re)insurers with the most dynamic and game-changing Israeli startups. We work closely with strategic partners around the world as well as local trade organizations.