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NEW: CLAL INSURANCE HOME INSURANCE INCLUDES FAMILY CYBER INSURANCE

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By on Cyber

Clal Insurance is expanding its home insurance policy to include cyber insurance for the family as part of it, at a special price. Home insurance offers a policy which is tailored to the customers’ needs, with a variety of options: structure insurance, contents insurance, expanded third party coverage, earthquakes, coverage for jewelry and many other additional coverages. The option of adding cyber insurance for the entire family in now being offered. The family cyber insurance offered by Clal Insurance and Finance gives a coverage envelope protecting against a wide range of cyber events, including net shaming and bullying, recovery of…

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RITA BAAL-TACSA APPOINTED SENIOR VP AT VESSTOO INSURTECH COMPANY

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By on People

Rita Baal-Tacsa, a senior figure in the insurance sector, who serves as an Ayalon director and former VP at the Phoenix and also represented the Marsh insurance broker in Israel, has been appointed as VP at the Vesttoo insurtech company. Rita is responsible at Vesttoo for partnerships with insurance markets and works for the benefit of insurers, reinsurers and underwriting agencies worldwide in need of capacity support for their ongoing activity. The company operates in the area of ART (Alternative Risk Transfer). Vesttoo has developed a unique algorithm and a digital platform that uses artificial intelligence (AI) for transferring risks.…

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Menora Mivtachim Is Collaborating with Israeli Startup Hour One

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By on Systems

A successful collaboration between Menora Mivtachim and the Israeli startup, Hour One. Hour one has developed a platform for the creation of videos led by computerized and realistic avatars. Hour One’s unique video creation platform uses artificial intelligence and allows companies to take any person and turn them into a “synthetic figure” through a short computer scan. Then, the system allows its users to dictate to the character the desired text and produce realistic videos in minutes. Menora Mivtachim will continue to reach out to the local ecosystem and startups from around the world and explore new technologies to find creative and…

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Vesttoo launches VESCOR and first non-catastrophe P&C investment grade notes (PRNewsfoto/Vesttoo)

Vesttoo and Corinthian Re Launch VESCOR, a Partnership Driving Investment-Grade Rated Debt Structures Over Non-Catastrophe Insurance Liabilities

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By on Systems

Vesttoo, a AI-based global alternative risk transfer and investment platform, announced today the launch of VESCOR, a strategic partnership with Corinthian Re, that will offer the world’s first non-catastrophe insurance investment-grade rated feeder fund. The new partnership will offer institutional investors rated notes securitizing dozens of underlying P&C reinsurance transactions. The first note issued will cover over $250 million in Gross Written Premiums (GWP), with an aim of covering $2 billion GWP in subsequently issued notes. The partnership is targeting its initial investment-grade rating for issued notes by one of the world’s leading rating agencies. Vesttoo launches VESCOR and first non-catastrophe P&C investment grade…

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By Kobi Bendelak

14 Israeli Insurtech Start-Ups Will Participate In The Insurtech Insights Conference In London

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By on news, People

Insurtech insights,  the European largest InsurTech conference, will take place on the 15-16/03 In London UK. More then  2,000 visitors will participate in the conference, including the representatives of many insurance companies, investors, key persons and of course startups and technology people from all over the world. The conference gives exposure to new and advanced technologies in the world of insurance and a look into the future of the sector. InsurTech Israel CEO Kobi Bendelak: “Within the framework of InsurTech Israel, we put together a mission of 14 Israeli startups with a wide range of technological solutions. Amongst those travelling…

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WESURE SIGNS MULTI-YEAR REINSURANCE AGREEMENTS WITH MUNICH RE

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By on P&C

Wesure has signed on multi-year engagement agreements with Munich Re, one of the world’s largest reinsurers, which has been accompanying Wesure since it started operations. According to the agreements, which were signed with the involvement of New Re Capital Partners, Munich Re’s share of the panel of the subsidiary’s reinsurers in the motor sectors (compulsory and property) will increase. Agreement was also reached on financing, via payment on account of projected future commissions totaling 22.5 million shekels, for a period of three years, the financing bearing interest at a rate of 0.65% per annum. The proportionate reinsurance agreements with Munich…

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Roni Al-Dor, Sapiens president and CEO

SAPIENS PARTNERS WITH WCL TO PROVIDE CONNECTIVITY FOR LLOYD’S OF LONDON BUREAU SERVICES

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By on Systems

Sapiens International Corporation, (NASDAQ and TASE: SPNS), a leading global provider of software solutions for the insurance industry, announced today that it will partner with WCL, a Zywave company, to provide messaging to Lloyd’s of London Bureau Services. “Sapiens’ core policy software integration with WCL signals our mission to expedite and strategically invest in contemporary API services aligned to Lloyd’s Blueprint Two goals,” said Roni Al-Dor, Sapiens President & CEO. “Streamlining the process will enable our primary insurance clients new opportunities to access Lloyd’s capital and reinsurance service, while at the same time will bring real-time risk management a step closer.”…

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sayata founders

Sayata Extends A Round To $52 Million To Make Business Insurance More Accessible

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By on Investments, Systems

Sayata, the developer of a marketplace for insurance brokers and carriers to easily scale their business insurance portfolios, announced the addition of $35M to the previous $17M raised just five months ago, for a total A round of $52M. The additional raise was led by Pitango Growth and Hanaco Ventures, with participation from previous investors Team8 Capital, Vertex Ventures, Elron Ventures, and OurCrowd. Sayata’s proprietary technology automates the time-consuming process of finding and securing business insurance. Brokers are freed from the manual tasks of hunting for quotes,  shuffling applications, and the lengthy back and forth with insurance providers to finalize…

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Five Sigma Expands Its Leadership Team with Four New Appointments

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By on People

The Insurtech start-up Five Sigma, which has developed a claims management platform based on unique data modeling technology, today announces four significant additions to its leadership team: Dana Poleg, Chief Marketing Officer, Amalia Landau, VP of Human Resources, Shani Gal, VP of Product, and Ofer Milavsky, Chief Operating Officer. All four new executives bring with them major achievements and extensive experience in global technology companies. Dana Poleg, Five Sigma’s newly appointed CMO, has an impressive track record of over 15 years in marketing management positions for leading high-tech companies in the US and Israel, including NICE, where she served…

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Itay Ben Zaken

Insurtech Startup Honeycomb Raises $15.4MM in Series A Round

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By on news

Honeycomb  has raised $15.4 million in a Series A funding round led by Ibex Investors. The fast-growing digital insurance provider 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.  Moreover, Honeycomb’s proprietary AI-driven technology also is the first to enable the delivery of bespoke, “right-priced” insurance coverages – instantly. The U.S. and Israel-based company, which only began writing U.S. policies in June of 2021, now operates in four states — Illinois, Arizona, Michigan, and Ohio – with plans this year to launch in ten…

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