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Meet Docomotion: Transforming Insurance Document Automation

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By on Claims, ITC convention

In this edition of our series on the Israeli Insurtech delegation heading to ITC Vegas in October 2024, we’re excited to showcase the forward-thinking companies transforming the insurance industry. This time, we turn our spotlight to Docomotion, exploring their journey, challenges, and groundbreaking technologies through detailed interviews. Company Overview Founded in 2015, Docomotion is a cutting-edge document generation application on Salesforce. Our mission is to provide intuitive and efficient tools for designing and generating complex documents, allowing organizations to automate document-related processes and significantly enhance their business efficiency. In July 2024, Docomotion was acquired by Novidea, a strategic decision…

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Emotion Logic Secures SOC 2

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By on Claims, Cyber, news

At Emotion Logic, we understand that trust is the cornerstone of every interaction and partnership. Today, we are proud to announce a significant milestone in our commitment to safeguarding our clients’ data: Emotion Logic has achieved SOC 2 Type II certification. SOC 2 Type II certification is recognized as one of the most rigorous standards for data security. It was developed by the American Institute of CPAs (AICPA) to assess the design and operational effectiveness of an organization’s security controls. Earning this certification required a comprehensive audit of our systems, processes, and controls to ensure they meet the highest standards…

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Meet WASENS – Revolutionizing Global Water Damage Protection

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By on news

In this edition of our series on the Israeli Insurtech delegation heading to ITC Vegas in October 2024, we’re excited to showcase the forward-thinking companies transforming the insurance industry. This time, we turn our spotlight to Wasens, exploring their journey, challenges, and groundbreaking technologies through detailed interviews. We sat down with CEO, Haimon Israeli, to learn how ‘smart’ leak detection and flood prevention systems help insurance companies reduce the number of clients’ water damage claims, and associated costs. Can you briefly describe your company and your mission? Haimon: In 2014, we put together a dedicated team of R&D, IT, IoT, smart…

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Lincoln Expands Care Services with Empathy

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By on Health Insurance

Lincoln Financial Group (NYSE: LNC) has launched new grief support services for Group Life beneficiaries, providing care beyond the claims process. This new service, provided by Empathy – the comprehensive support system for the bereaved – can help families navigate the logistical aspects of loss, including estate settlement, executing a will and more, as well as any emotional challenges they may be facing. On average, it can take families more than a year to resolve their loved one’s affairs, spending 20 hours per week on these tasks.1 Three out of four beneficiaries also struggle with estate-related financial matters, and nearly half of beneficiaries…

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Prevention: The New Frontier in Insurance / yael benvenisti

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By on Articles

The insurance industry, traditionally reactive in nature, is undergoing a paradigm shift. Prevention, once a peripheral concern, is now at the forefront of innovation. As technology advances and consumer awareness grows, insurers are realizing the potential of shifting their focus from merely compensating for losses to actively preventing them. This transformation promises to reshape the industry, impacting underwriting, customer value propositions, and the competitive landscape. At the core of this shift lies the recognition that prevention can significantly reduce claims. For instance, in health insurance, wellness programs, and preventive check-ups can lower the incidence of chronic diseases, leading to…

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Omdia and At-Bay: Cyber Insurance as Key to Proactive Security

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By on AI, Articles, Cyber, news

Omdia commissioned study shows how businesses can accelerate cybersecurity maturity by combining cyber insurance with proactive cybersecurity Global tech analyst firm, Omdia, and the InsurSec provider for the digital age, At-Bay, released new research today investigating the important role cyber insurance can play in a proactive cybersecurity strategy. The research found that organizations of all sizes are embracing proactive cybersecurity solutions and that cyber insurance is emerging as a key driver of cybersecurity spend decisions for many businesses. There is however, a big opportunity for businesses to partner more closely with their insurance provider to unlock more effective risk reduction…

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Meet Amplifair: Transformative AI for Hidden Risk and Profitability

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By on AI, Articles, ITC convention

In this edition of our series on the Israeli Insurtech delegation heading to ITC Vegas in October 2024, we’re excited to showcase the forward-thinking companies transforming the insurance industry. This time, we turn our spotlight to Amplifair, exploring their journey, challenges, and groundbreaking technologies through detailed interviews. Company Overview  Can you briefly describe your company and its mission? Amplifair: Our mission is to help enterprises get automatic visibility and control over hidden risk, sales, and churn trends, and so significantly improve their profitability and market share. I was inspired to do that when understanding that any AI model accuracy can…

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Empathy Partners with PALIG for U.S. Beneficiaries

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By on Health Insurance, Investments, news

Pan-American Life Insurance Group (PALIG), a leading insurance carrier, will now offer Empathy, the comprehensive support system for loss, to provide holistic bereavement care for beneficiaries. Through this collaboration, Empathy and PALIG will go beyond the financial payout to offer holistic support to PALIG’s U.S. individual life insurance beneficiaries, ensuring they have sustained, comprehensive support as they face daunting emotional, financial, legal, and administrative challenges of loss. Losing a loved one can be an overwhelming experience, and bereaved families often find themselves grappling with significant financial, logistical, and emotional challenges, including closing accounts, managing the estate, and navigating legal processes.…

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Israeli Insurtech Leaders on CNBC’s 2024 World’s Top 150

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By on Articles, news

Israeli innovation continues to make waves on the global stage, with eleven companies being recognized in CNBC’s 2024 report of The World’s Top 150 Insurtech Companies. Compiled in collaboration with Statista, this prestigious list highlights the firms that are at the forefront of transforming the insurance industry through technology. In the face of challenges such as a significant 18% drop in venture capital investment in the first quarter of 2024, Israeli insurtechs are proving their resilience and ability to innovate across various market segments. Digital Insurers This category showcases insurance carriers and Managing General Agents (MGAs) that harness cutting-edge technology…

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Earnix Named in CNBC’s World’s Top Insurtech Companies 2024

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By on news, People

Earnix, the leading global provider of AI-based SaaS solutions for financial services, today announced that it has been included in CNBC World’s Top Insurtech Companies 2024 in partnership with Statista. In its inaugural year’s CNBC and Statista’s World’s Top Insurtech Companies 2024 aims to shed light on the constantly growing and fast changing global insurtech-market by awarding the top insurtech companies in various market segments based on an in-depth analysis and weighting of overarching and segment-specific KPIs (key performance indicators). CNBC partnered with Statista to evaluate more than 1,000 applicants across six different market segments–underwriting and risk analysis; policy administration…

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