The Yous start-up develops ground-breaking technology enabling on-demand automatic insurance * Fund CEO Kobi Bendalek: We found that the company’s vision and technology are about to change the customers consuming and use of insurance around the world
The Israel Insuretech investment fund, which invests in start-ups developing technologies for the global world of insurance, has invested in the Yous start-up’s latest capital offering round. Details of the investment have not been given but those involved in the transaction say that it amounts to a few million dollars. Yous recently won second place in the GIR 2019 competition in Frankfurt.
Fund CEO, Kobi Bendelek: “We found that the company’s vision and technology are about to change the customers consuming and use of insurance around the world. We chose to invest in the company by virtue of its experienced managers, as well as the technology. An additional important reason is the fact that the company suits the Fund’s goal, which is investing in early stage start-ups which are developing advanced technologies for the global world of insurance”. He said that the investment in the companies is a smart investment accompanied by experience and deep familiarity with the world of insurance from many angles.
Bendalek added that the investment in Yous is a continuation of the Fund’s strategy of investing on ground-breaking companies in the world of insurtech, such as the investments in Kovrr, Comroads and others. The Fund expects to insure in another two to three companies in the course of the year.
Arik Sasi and Eliasaf Mause, the start-up’s owners and managers, said that the idea came up during attempts to think about the way that people will consume insurance in the future, particularly the millennials generation. They say that the technology that they are developing will enable “an understanding of the client’s exact activity, translate the risk and insure it according to need and use only. From meetings we have been holding with insurers around the world, we are seeing a lot of interest in our solution”.