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Roi Agababa, Novidea CEO

Novidea’s Insurance Distribution Platform Selected by Mivtach Simon as Part of Digital Transformation Strategy

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By on news

Novidea, creator of the cloud-based, data-driven enterprise insurance management platform for brokers, agents, MGAs/MGUs, and wholesalers, today announces that it has been chosen by Mivtach Simon, a subsidiary of Migdal Insurance Agencies in Israel, as technology partner to implement its insurance distribution platform. Mivtach Simon is Israel’s largest insurance, pension and financial planning company, providing technological services to Migdal Insurance Agencies, including Sagi Yogev and Shacham-Orlan. As part of an extensive digital transformation program led by Chief Information Officer at Migdal Insurance Agencies, Ilanit Hazan, Novidea’s insurance management platform will centralize the agencies’ operational and services processes. This partnership is…

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At-Bay Begins Issuing Policies on its own E&S Paper; Finalizes Transition to Full-Stack Carrier

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By on Cyber

First Cyber InsurTech to transition to full-stack E&S carrier further spurs profitable growth and innovation in today’s fast-growing specialty market.At-Bay, the insurance provider for the digital age, today announced that it has begun issuing Cyber and Tech E&O policies under its Delaware-based Excess and Surplus (E&S) carrier, At-Bay Specialty Insurance Company. Formed in January 2023, At-Bay Specialty Insurance Company received an AM Best A- (excellent) rating with stable outlook in April. “In a rapidly changing cyber insurance market, brokers and customers need tech-enabled agility and financial stability. Until today, they could only get one or the other,” said Rotem Iram,…

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Direct Insurance (IDI) to cooperate with Israeli startup Click-Ins to improve the value proposition for its customers

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By on Car&Mobility, news, P&C

Direct Insurance is announcing a collaboration with Israeli insurtech startup Click-Ins, which is developing a technological solution for detecting visual damage to vehicles. Click-Ins’ technology enables users to quickly scan the vehicle using their smartphone camera, and creates a detailed report assessing the damage to the vehicle’s exterior within minutes. As part of the collaboration signed between the companies, Direct Insurance customers who are in the process of insuring their vehicle will receive a link to Click-Ins’ web app, which will allow them to scan their vehicle using their smartphone camera, thereby streamlining and speeding up the process, while increasing…

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lemonade founders

Lemonade: “2023’s second quarter delivered better than expected top and bottom lines”

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By on news

“2023’s second quarter delivered better than expected top and bottom lines” – says lemonade in the Shareholders letter – “as well as reinsurance and growth financing programs which herald a step function improvement in our capital efficiency, enabling both faster growth and deeper cash reserves”. Here are main point from the letter: Top line: At $687 million, in-force premium (IFP) grew by 50% year over year. Reinsurance: Our 55% quota share program was reupped and oversubscribed, with ceding commissions expected to be roughly equivalent to those under the outgoing agreements. ‘Synthetic Agents’: We secured customer acquisition cost (CAC) financing, designed…

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Itay Ben Zaken & Nimrod Sadot

Honeycomb Partners With PacWest Alliance Insurance Services Inc.

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By on P&C

Honeycomb partner with PacWest Alliance Insurance Services Inc.  Honeycomb  has developed the first technology stack for multi-family properties that dramatically streamlines the arduous, time-consuming process faced by landlords and condo owners associations seeking insurance. Honeycomb’s proprietary AI-driven technology also is the first to enable the delivery of bespoke, “right-priced” insurance coverages – instantly.

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 Binah.ai`s Technology Will Empower the Together By Renee App with Video-Based Health and Wellness Check Capabilities

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By on AI, L&H

 Binah.ai, an artificial intelligence (AI) powered health and wellness check software, announced today that its technology is empowering the Together by Renee app with video-based health and wellness check capabilities. Binah.ai’shnology, delivered in the form of a Software Development Kit (SDK), seamlessly integrates into organization apps or workflows to empower their services with video-based health and wellness checks. By simply looking at their smartphone cameras, end-users can measure and share a wide variety of biomarkers, including blood pressure, heart rate, heart rate variability, oxygen saturation, respiration rate, sympathetic stress, parasympathetic activity and pulse-respiration quotient (PRQ) within 30-60 seconds. This capability…

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HSB Renews Cyberwrite Partnership for AI-Driven Cyber Insurance

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By on AI, Cyber

HSB Insurance Company, part of the MunichRe Group, has renewed its agreement with the Israeli company Cyberwrite to use their artificial intelligence-based cyber insurance underwriting platform. This is part of their ongoing strategy to leverage data and technology in cyber insurance underwriting. Since 2018, HSB has been utilizing Cyberwrite’s flagship product to assess cyber risks for businesses they insure or consider insuring in real-time. This allows for quick and accurate underwriting to understand the potential financial impact of cyber attacks on the insured businesses, manage risk exposures in customer portfolios, and provide continuous monitoring and alerts to policyholders to prevent…

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EasySend Has Launched a New Product Feature: EasySend Analytics

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By on L&H, news, P&C, Systems

EasySend has  launched a new product feature: EasySend Analytics. With interactive analytics dashboards built into the platform, users can now track and measure the results of their digital processes and deep dive into collected customer data on the EasySend platform in real time. EasySend Analytics enables businesses to drill down into their workflow usage and end-user data at every stage of their digital processes. Platform users can leverage the analytics tool to compare and improve bounce rates and conversions, discover top processes, spot gaps and errors in the funnel, evaluate performance, analyze revenue, and identify trends – all while keeping…

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Pioneering the Global Program Empowering Startups Worldwide in 4 Days

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By on Investments, news, People

In today’s rapidly evolving world, where entrepreneurship and innovation are the driving forces behind economic growth, the International Program in Tel Aviv stands out as a trailblazing initiative that has revolutionized the Insurtech startup ecosystem. With its unique format of a short and fast bootcamp-style program, this groundbreaking program has become a launchpad for emerging startups, providing them with unparalleled opportunities for growth, mentorship, and global exposure. The Global Program brings together Insurtech startups from backgrounds, creating an environment where groundbreaking ideas flourish, and game-changing solutions are developed. This diversity of perspectives fosters collaboration and cross-pollination, as entrepreneurs from different…

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Ravin AI has Developed an AI-based inspection system for Car rental companies

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By on AI, Car&Mobility, P&C

Ravin AI has developed a proprietary, patented AI-based inspection system for Car rental companies. the company said that the system helps allocate damage more accurately, increasing the car rental company’s ability to collect damage by almost 30% and keep vehicles running. according to the company, In 2021, the global car rental market was valued at $103.14 billion, and is projected to reach $141.17 billion by 2028 – a CAGR of 4.6% from 2021 to 2028. Ravin AI: “The car rental industry’s transformation is being propelled by increasing tourism, a rise in the global population’s disposable income, and technology-enablement. Among these…

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