In a groundbreaking move, Five Sigma, an AI-Native claims management software company, unveiled “Clive” ™, the insurance industry’s first AI-powered Insurance Adjustment Agent, designed to transform the claims processing landscape. Clive’s revolutionary capabilities leverage the power of artificial intelligence and automation to redefine how claims are handled by insurers, MGAs, and TPAs, setting new benchmarks in efficiency, accuracy, and cost reduction. AI is Poised to Transform the Insurance Industry According to many analyst reports, the future of insurance and claims management is poised for a significant transformation, driven by the integration of AI and automation technologies. According to a report by Accenture,…

In this installment of our series on the Israeli Insurtech delegation attending the upcoming ITC Vegas convention in October 2024, we are thrilled to introduce our readers to the innovative companies reshaping the insurance landscape, continuing  with SeismicAI, and delve into the depth of their journeys, challenges, and cutting-edge technologies through in-depth interviews Company Overview SeismicAI, founded in 2014, is a provider of innovative earthquake early warning systems (EEW). The company’s EEW as-a-service solutions accurately alert anywhere in the world. Its offices are located in Israel, the US and Mexico, and its installed base includes Italy, Mexico, Canada, the Philippines,…

Cytactic, the platform pioneering cyber crisis readiness and management, announced today a $16 million seed funding round led by Evolution Equity Partners, a renowned cybersecurity venture capital fund. Businesses are scrambling to fortify their defenses against cyber threats, recognizing the widespread impact and complexity of such crises. However, studies show that most companies are not resilient in case of a cyber crisis. A new approach is crucial—one that integrates cyber crisis preparation, response management, and recovery into a unified, user-friendly platform accessible to all relevant roles and market sectors. This is where Cytactic comes in. Cytactic, a market-leading SaaS platform is an innovation-forward,…

In this installment of our series on the Israeli Insurtech delegation attending the upcoming ITC Vegas convention in October 2024, we are thrilled to introduce our readers to the innovative companies reshaping the insurance landscape, continuing  with Connected Insurance, and delve into the depth of their journeys, challenges, and cutting-edge technologies through in-depth interviews. Company Overview Can you briefly describe your company and its mission? Connected: Connected is a leading provider of artificial intelligence that optimizes better mobility insurance. We empower fleets and OEMs with comprehensive solutions and intelligence to minimize risk costs, maximize fleet safety, and streamline insurance operations.…

Israeli startup Entrio, the responsible tech adoption platform, today launched Entrio Copilot, an AI assistant designed to transform the way financial services organizations navigate and adopt technology. Enterprises today face increasing complexity in their tech stacks, making it crucial to stay ahead with the right technology. However, keeping track of every innovation can be overwhelming. Entrio Copilot eliminates the hassle of tech decisions, making exploration, evaluation, and integration effortless. “We believe Entrio Copilot will revolutionize how our customers approach their tech strategies, providing them with the insights and confidence they need to stay ahead in a rapidly evolving landscape.” -…

weSure Global Tech Group announces a significant and strategic investment Agreement with a AmTrust a leading American financial and insurance institution. AmTrust is expected invest a total of ~ NIS 72.6 million in weSure Global Tech’s share capital in two stages. Initially, an investment through a private placement of NIS 16 million will be made , at a price of NIS 3 per share, up to a holding of about 5% of the company’s share capital. In the second stage, which is subject to regulatory approvals, an additional 10% share holding will be issued to AmTrust, for the investment of…

Japanese insurance giant Sompo continues to connect between Japan and early stage, innovative Israeli technology companies, and on this occasion to benefit the environment and prevent continued global warming: In the global race to reduce carbon footprints in order to slow down global warming, Japan is participating this year, more than ever, and this is due, among other things, to the growing presence of Japanese owned energy production sources and gas pipelines beyond Japan’s borders. This situation exposes those Japanese companies that operate gas rigs and pipelines to fines and sanctions from the government of the territory in which they…

DigitalOwl, a company that specializes in utilizing technology to interpret and transform medical records into a completely digital, comprehensive and interactive abstract, today announced that it has been selected as winner of the “Best Overall NLP Company” award in the seventh annual AI Breakthrough Awards program conducted by AI Breakthrough, a leading market intelligence organization that recognizes the top companies, technologies and products in the global Artificial Intelligence (AI) market today. DigitalOwl’s proprietary Natural Language Processing (NLP) platform for medical records automatically analyzes medical documents, transforming both structured and unstructured data into concise summaries and spreadsheets – within hours. The platform’s…

Novidea, creator of the cloud-based, data-driven enterprise insurance management platform for brokers, agents, MGAs/MGUs, carriers, and wholesalers, today announced the strategic acquisition of Docomotion, an automated document generation technology provider. The acquisition of Docomotion is the latest in a series of strategic moves by Novidea in its journey to become an insurtech industry leader. The transaction is set to close within the week. The acquisition will accelerate product innovation and create unparalleled value to customers, adding new capabilities to Novidea’s award-winning insurance management platform, including automated forms processing, design, management, and e-signatures. Docomotion’s customers will benefit from a broader product…