Heli Mirel
In this interview, we sit down with Heli Mirel, Department Manager of the Global Innovation HUB at IDI, to explore the inner workings of their cutting-edge innovation hub. Established through a collaboration between Direct Insurance and the Japanese insurance giant MSI, this hub is at the forefront of InsurTech and FinTech innovation. By leveraging the expertise of a joint team, the hub scouts Israeli startups, conducts accelerated feasibility tests (PoCs), and integrates the most promising technologies into the systems of their respective insurance companies, or even considers them for investment. Mirel sheds light on the hub’s collaborative efforts, cultural exchanges, and the technological advancements that are shaping the future of the insurance industry.
Could you tell us a bit about the technological hub of Direct Insurance in collaboration with the insurance giant MSI?
Mirel: A Global Digital Innovation Hub established by a collaboration between Direct Insurance and MSI the Japanese insurance giant.
With the help of a joint team, the companies locate Israeli startups in the field of InshurTech and FinTech and perform feasibility tests (PoC) for these products in an accelerated track in order to implement them in the systems of our insurance companies or for the purpose of investment.
We’d love to hear some data about the collaboration: How many startups apply each year? How many POCs have been launched?
Mirel: About 50 startups apply each year in average (about 180 until now, in 3.5 years that we exist), conducted about 30 POC’s.
The collaboration between Direct Insurance and MSI has been ongoing for several years. How do you summarize the joint activity?
Mirel: The ongoing collaboration streamlines processes, identifies solutions, and enhances competitive advantages for both groups. Our close collaboration generated wide range of information sharing, trends exploration and innovation research.
What are the prominent differences you identify between Israeli and Japanese culture? How do these differences affect business activity?
Mirel: Cultural differences impact business activity. For instance, Israeli culture tends to be more informal, agile, and risk-taking, while Japanese culture emphasizes hierarchy, precision, and long-term relationships.
We learned to respect and appreciate each other’s cultural way and actually learn and adopt the advantages of each culture and fertilize each other’s business success.
Are there examples of Israeli technologies that have been adopted in Japan?
Mirel: yes, upstream – a startup that MSI invested in and developing a new business model based on it.
Tell us about the collaboration with Insurtech Israel – what is its purpose from your perspective?
Mirel: exposure to a large base of startups that enlarge our scouting funnel and also to collaborate in order to foster innovation, knowledge exchange, and industry growth.
What is unique about the DNA of Direct Insurance that allows for the successful existence and implementation of new technologies?
Mirel: The technology in direct insurance is developed independently by the technology and innovation division of the company. The systems are written in the most advanced technologies in the market in combination with the highest DATA capabilities. Providing advanced digital experience, optimized architecture that enables fast TTM and an advanced RPA and OCR infrastructure. Those in combination with our vibrant DNA, Agility and high execution ability enables us fast and successful development, integration to open innovation and implementation of new technologies.
Can you share about your professional background?
Mirel: Technology and innovation leader experting at mass-scale projects with more than 20 years’ experience in the fields of IT systems development aligned with business strategy.
