The annual contest of the Top Israeli insurtech companies and start-up officially begins. The Top Insurtechs will be chosen in the following Categories: 1. AI 2. Claims 3. Climate 4. Cyber 5. Health 6. Life 7. Marine 8. P&C 9. Pet 10. platform 11. Sales 12. Service 13. Travel 14. Underwriting 15. Wellness The contest is based on the results of a public survey, Open to all the insurtech ecosystem in Israel and Abroad (75%) and the votes of a team of professional judges (25%). Every Vote Counts – Hurry up and Vote.This year, We’re adding a special Category: The Insurer’s Choice The winner of this category will be Chosen By a team from Menora…

The study, led by insurtech innovator Five Sigma, finds claims departments suffer from inefficiency and long claims processing times due to lack of automation. Five Sigma, an emerging leader in cloud-native insurance claims management solutions (CMS), today announced the key findings from a recent survey providing insight into the performance of claims departments within major insurance companies in the U.S. The results of the survey paint a picture of claims departments at a tipping point. While respondents pointed to inefficiencies stemming from a lack of automation, they also showed an eagerness to increasingly implement innovative technologies and automate key workflows.  The survey…

VOOM integrates their insurance offerings into the new Motocross social platform, Full Throttle Full Throttle customers save with pay per mile motorcycle insurance. With VOOM’s innovative technology, riders can save up to 60%, with rates as low as $50 per year. Instead of paying an annual flat fee, your insurance rate is based on your actual mileage. No tracking or hardware required. 70% of riders overpay with traditional motorcycle insurance by paying a fixed rate, even for the times they don’t ride their bikes. If you ride less, you should pay less, that simple. Full Throttle, launching in 2023, is…

The reinsurance capacity is provided by certain underwriters from Lloyd’s of London and Hannover Re.  Parametrix, the leading provider of downtime insurance, this week announced it is strengthening and expanding its operations in the United States with additional reinsurance capacity. Partners Hannover Re and certain underwriters from Lloyd’s, including Tokio Marine Kiln, RenaissanceRe, and Apollo (through ibott Syndicate 1971) will join or have renewed their commitment to the Parametrix panel of reinsurers. The new structure is brokered by Howden Insurance Brokers Limited, UK. Parametrix, headquartered in New York, is a registered coverholder at Lloyd’s of London. Concerns about cloud downtime risk exposure are increasing, as shown in a recent Parametrix…

Q&A with IAG Firemark Ventures General Manager Scott Gunther What does Firemark Ventures do? Firemark Ventures, IAG’s strategic corporate venture capital (CVC) fund, was launched in 2016 to literally bring the outside world in. By strategically partnering and investing with start-ups that have capabilities to materially alter IAG’s insurance business, Firemark is building an incubation ecosystem across industry, venture capital, academia and government, to identify opportunities to explore, evaluate and create mutual commercial value. What are your goals in the co-operation with Insurtech Israel? IAGFV has expanded its international investment focus, engaging with non-competing global insurer CVCs which are focused…

Serenus.AI and HealthTrio are continuing an established partnership to launch an AI-based module to streamline and automate medical authorizations for knee replacements. As part of their joint “AI Prior-Auth Connect” project, their first module to streamline medical authorizations for knee replacements will be followed by modules for additional common elective surgeries. It is estimated that from the more than 700,000 knee replacement surgeries being conducted every year in the US, 30% are suspected as unjustified, risking patients’ lives, and wasting more than 8 billion USD in direct costs and additional indirect costs to the US healthcare market. “HealthTrio is proud to partner with Serenus.AI on…

Sling Cyber Insurance published today that they opened a business lines in Japan. “It gives us great pleasure to announce that we have opened our business lines in Japan!”, so they wrote on the business page. Sling added that “The New Office of Japan is now open, and we are happy to welcome anyone who is interested in working with us”. According to the company, Sling is bringing to the market a new approach of Cyber Defense Rating. their experts created Sling’s scoring algorithm to assess the probability of a cyber attack. The calculation considers real clients’ risks and exposure level by leveraging sophisticated…

Insurtix announced on the business page that in the coming few weeks KIZ (Klapton Insurance Zambia Ltd), a new insurance company in Zambia, is making the final steps towards its launch based on INSURTIX core platform. Insurtix wrote on their page that :”our flexibility in adapting it to it’s customer’s needs and to local requirements made it possible in a short time to launch an active system for KIZ that provides advanced management capabilities. The system will be able to provide KIZ with all the tools to operate the innovative insurance company with unparalleled efficiency”.

Connected Insurance in partnership with Shepherd Compello Lloyd’s broker have established an MGA offering with the Apollo ibott 1971 Syndicate to deliver the next generation insurance solutions for the Digital Economy.  Apollo ibott 1971 at Lloyds insures many of the largest Sharing Economy and innovative companies in the world.  Their partnership with Connected Insurance (CI) in collaboration with Shepherd Compello, uniquely positions CI to help Digital marketplaces in the USA, Europe, and the UK to emerge and solve a huge barrier for any player in the growing Sharing Economy space. “Platform insurance is the greatest barrier for Shared Mobility and Digital Marketplaces, existing policies are expensive and do not reflect their actual risk,” said…