by Alon silberberg, YuviTal CEO  “Like it or not, we are operating in a new era, different options combined with cutting-edge technology allows us to shift the power in the insurer-policyholder’s relationship to the last – in a massive way. So, the question is, “How can I, as a leader of a typical insurance company increase our profitability whilst still playing in the field that is controlled by the policyholder? In my opinion, in order to make this possible, you will need to implement these 3 elements into the core of your business. 1. Data – “The new oil”: Get…

Gallagher has partnered with Novidea to implement and tailor its insurance broking platform for its specialty client base. The platform will be pioneering in the market, revolutionising client service, and covering every stage of the broking lifecycle, from enquiry and quotation to policy issuance, claims, and settlement. Novidea’s insurance management platform provides a data-driven, cloud-based solution built on Salesforce that standardises and automates processes to improve efficiency and deliver an enhanced user experience. The platform has a self-service portal which gives clients secure access from any device to key information including renewals, policies, claims, and analytics. Gallagher’s investment in this…

The company is raising 14 million shekels for the development of an autonomous underwriting system, according to a valuation of 240 million shekels * The company intends raising an additional 200 million shekels in 2023-2024 for obtaining a property insurance license and for developing an autonomous claims system The Choco insuretch company, which operates in the business insurance sector, is on the way to a private offering of ordinary shares to qualified investors and institutions. The company is currently engaged in a capital raising process in order to put up the capital needed by the company and for technological developments.…

Vesttoo has entered a partnership with Clear Blue Insurance Group to deploy $1 billion in reinsurance capacity to Clear Blue’s P&C lines over the next year. The capacity will be sourced from the capital markets through a variety of insurance-linked assets. Vesttoo, a leading insurance risk transfer platform, announced today that it had signed a partnership agreement with Clear Blue to supply the latter with reinsurance capacity sourced from capital markets investors, totaling a sum of $1 billion USD. The partnership is part of Vesttoo’s vision to bridge the gap between the insurance and capital markets, scaling insurance-linked investments as…

At-Bay, the insurance provider for the digital age, today announced the acquisition of Relay, a technology solutions provider enabling the digital transformation of commercial insurance placements. Relay will continue to serve a growing list of brokers and partners as an independent entity, under its own management team. Joining At-Bay enhances Relay’s ability to expand its capabilities and value-added services for its partners. “Brokers are hungry for better service and streamlined workflows from their partners, which technology can transform. Far too often, they are held back by outdated processes and systems,” said Rotem Iram, co-founder and CEO of At-Bay. “Relay has…

The two companies will each invest 2 million dollars in Wesure Digital, with AmTrust receiving 30% of it. Wesure Digital will operate with an AmTrust group company which specializes in special insurance plans and will receive within the framework of the agreement underwriting, management and issuing rights in that insurer’s name Wesure is continuing to expand its global activity. The company has signed on investment and collaboration agreements with companies that are part of the AmTrust Financial Service Inc. group. Within the framework of the insurance agreements, Wesure and AmTrust will each be investing 2 million dollars in the Wesure…

MediMe was selected from among many startups that submitted applications from all over the world to participate in the INSURY Startup Award competition that will be held in September 2022 in Vienna, Austria. One of the most prestigious competitions in the InsureTech world. MediMe, founded in 2020 by Zvika Ilan and Eli Walles, operates in data management and data-driven systems for the insurance market. MediMe develops a unique and first-of-its-kind self-operation platform to build an insurance profile for end customers, independent of the data held by the insurance companies. Through a simple data entry process on the part of the…

First-of-its-kind insurance coverage protects businesses from the financial fallout of third-party content delivery network outages Parametrix, the provider of technology downtime insurance, today announced the launch of Parametrix CDN Downtime Insurance. This first-of-its-kind insurance coverage protects businesses from the financial fallout of third-party content delivery network (CDN) outages, securing cash flow to fix any damages after a business’s main sales and communication channel is down. Parametrix CDN Downtime Insurance is especially important for digital native companies with online presence, content and transactions such as e-commerce, travel, e-mobility, media, healthcare and fintech companies. For online retailers, websites are critical…