Name of the Company: Ledgertech AG
Describe the Company’s Core Activities: Ledgertech is a digital insurance technology company providing a transformative Low code/No code Insurtech platform that revolutionizes the insurance industry by significantly reducing the time required for developing, launching, and distributing new insurance products. Our platform condenses traditional timelines from months or years to a matter of days, enhancing flexibility, cost-effectiveness, and expediting embedded insurance integration and distribution. This agility enables clients to swiftly adapt to market dynamics, ensuring responsiveness in the ever-changing insurance landscape to meet the dynamic demands of both clients and the market.
Our primary focus is on enabling the rapid creation of embedded insurance products, as well as serving Managing General Agents (MGAs), businesses, insurers, and re-insurers. Our versatile platform empowers insurers and channels to efficiently develop and distribute digital insurance products for various use cases, including Embedded Insurance and Specialty insurance.
What Specific Challenges in the Insurance Sector Are You Addressing?
Ledgertech addresses challenges in the insurance sector, including the lengthy product development process (typically taking 12-18 months), lack of flexibility, complex internal processes, and the need for insurers to quickly adapt to market dynamics by using advanced pricing model like Pay As You Go, Pay How You Go, UBI, P2P, etc. We also address the challenges faced by embedded insurance channels in creating and distributing innovative digital insurance products efficiently.
Could You Explain Your Business Model?
Ledgertech operates on a unique no-risk revenue-sharing business model. We share the risk and success of our customers, eliminating the need for significant upfront license fees. We only receive compensation when our customers successfully sell insurance on the Ledgertech platform.
Enumerate the Core Values Important to Insurance Companies/Brokers:
- Innovation: We empower insurers and channels to innovate and create digital insurance products efficiently.
- Customer-Centricity: Our platform enables the creation of customer-centric insurance products that enhance the policyholder experience.
- Efficiency: We streamline processes, reducing the time required for product development and distribution.
- Adaptability: Ledgertech helps insurers quickly adapt to changing market dynamics.
- Data-Driven Insights: Our platform allows access to customer data for better risk assessment and pricing.
- Value Creation: We help insurers and channels create value for their customers, driving profitability and customer retention.
How Can You Enhance the Experience for Policyholders?
Ledgertech enhances the policyholder experience by facilitating the creation of innovative and customer-centric insurance products. For example, our platform enables on-demand embedded insurance, such as the automated travel insurance currently offered by Cellcom, the largest Israeli telecom provide. With the Ledgertech platform, Cellcom’s customers can access travel insurance precisely when needed and customize their coverage to match their specific travel plans. This approach provides customers with convenient, cost-effective coverage, creating value for both policyholders and service providers.
Detail the Previous Investments in Your Company:
Although well-funded, ss a privately held company, Ledgertech does not disclose specific financial information, including details of previous investments. However, we continue to explore opportunities for strategic partnerships that align with our vision and goals in the digital insurance technology sector.
Outline the Notable Partnerships or Agreements You’ve Entered Into:
Ledgertech has formed notable partnerships and agreements, with the most recent being Cellcom, a major Israeli cellular provider, and Menora Mivtachim Insurance. Together, we have introduced a first-of-its-kind Automated Digital Embedded Travel Insurance Solution that redefines how people protect themselves while traveling.
This partnership empowers Cellcom customers with the ability to access travel insurance on a pay-as-you-go basis precisely when needed, tailored to the duration of their overseas trips. Cellcom customers can now benefit from seamless digital travel insurance coverage while traveling abroad, effortlessly activated through their mobile devices on every trip. It offers the flexibility to customize coverage according to specific travel plans, ensuring that policyholders pay only for the insurance they require. It represents a significant leap forward in travel insurance accessibility and cost-effectiveness.
Identify the Key Executives in the Company and Their Respective Roles:
Eran Tirer
Role: Founder & CEO
Background: Former CEO of EZSource (an IBM Company) and CEO/co-founder of EZSource. Eran has over 30 years of executive experience in the software industry. He holds an LLB in Law and is a graduate of the Israeli Military Software Engineering Academy.
Omer Caspi
Role: Founder & CTO
Background: Former Chief Architect ADDI & STSM at IBM, CTO, and co-founder of EZSource. Omer has over 25 years of experience in senior software engineering positions. He holds a BSc in Computer Science and an MBA.
Yael Yariv
Role: Chief Insurance Business Officer
Background: Former senior VP at several leading Israeli insurance companies, where she led the Non-Life Division (private lines) and oversaw underwriting, claims, and marketing. Yael has over 24 years of experience in various senior roles in the insurance industry. She holds a BA in Political Science and Sociology & Anthropology.
