Insurtech Israel News
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Arik Yogev, Ayalon CEO

Insurtech Israel and Ayalon will partner with BrokerTech Ventures establishing an International InsurTech Accelerator

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By on news

Insurtech Israel, Ayalon Insurance company and Brokertech Venture , together with an international coalition of leading parties in the global insurance industry, , is forming an International Insurtech Accelerator. the Accelerator will  investment in the dedicated project to develop projects in the insurtech industry, is estimated at NIS 10 million. Japanese insurance giant Sompo and international firms: Deloitte, Sapians, DELL, Milliman and Israeli law firm Shibolet have joined as business partners. the Israeli Insurtech Accelerator is  unique accelerator will hold two cycles per year in the first stage, with four to five potential startups selecting the highest potential in each…

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MediMe Is Developing A Smart AI-Based Health Profile To Simplify Insurance Purchase Processes

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By on Health Insurance, L&H

Q&A with Zvika Ilan – CEO & Co-Founder At MediMe What does MediMe do? Ilan: MediMe operates in InsureTech and, more specifically, in the world of health insurance and life insurance. These are the two most complicated areas of all the insurance areas and the most extended underwriting processes. Today, the processes of purchasing an insurance policy are long, complicated, with a complicated privacy problem, and at the end of the day, do not provide a personalized solution, but instead put the insured into a template – an insurance policy. Also, in terms of insurance agents and insurance companies…

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Cloud-Native, AI-Enabled Claims Management Platform

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By on AI, Big Data, Claims, Systems

Q&A with Oded Barak, FiveSigma Co-Founder & CEO What does Five Sigma do? Barak: Five Sigma provides a cloud-native, AI-enabled claims management platform that delivers comprehensive functionality from FNOL and Customer Communications to Claims Settlement, Subrogation, Litigation Management, and Recovery for P&C Insurers. Five Sigma’s platform was built from the ground up with a proprietary All-In Claims modeling, an adjuster-centric design, open APIs, and data-driven methodology. These features enable insurers to improve adjusting effectiveness, increase productivity, enhance customer experience, promote manageability, and innovate more rapidly. With an agile first deployment approach and on-going bi-weekly releases, Five Sigma provides the model resilient…

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Assaf Wand, Hippo Co-founder and CEO

Hippo Secures $350 Million Capital Investment

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By on P&C

Hippo Enterprises, the high-growth insurtech group that’s transforming home insurance, announced a capital investment of $350 million from Mitsui Sumitomo Insurance Company, Limited, a subsidiary of MS&AD Insurance Group Holdings, Inc. Through this partnership, Takashi Sato, a managing partner of MS&AD Ventures, the corporate venture capital fund of MS&AD Insurance Group Holdings, will join Hippo’s board of directors as an observer. The investment will support Hippo’s product roll out in additional states, to reach 95 percent of the U.S. homeowners population in the next year, as well as providing additional capital for its insurance and reinsurance companies. The investment solidifies…

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Roi Agababa, Novidea CEO

Israeli InsurTech platform provider Novidea secures $15 million in Series B financing

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By on L&H, P&C, Systems

Novidea, a leading global provider of the data-driven, cloud-based platform that enables brokers, agents, and MGAs to drive operational efficiencies and growth across the entire distribution lifecycle, today announces the successful completion of $15 million in Series B financing. The round was led by JAL Ventures Fund II, with the participation of existing investors including KT Squared LLC and 2B Angels. Many insurance businesses are encumbered by legacy systems that are limited, inflexible, and expensive to update. With Novidea, customers benefit from a cloud-based platform that makes it possible to work from any device, anywhere. This enables accelerated growth and…

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Incentives Solutions introduces a novel technology for calculating and managing commission agreements at insurance companies and agencies

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By on news, Systems

Incentives Solutions, which specializes in planning and managing incentives and commissions, is launching JOOPY Insurance, a first of its kind system for implementing complex business models for insurance agents. Starting in 2020, the system was installed by several large Israeli insurance companies and provides the firms with a tool for managing work agreements with their agents and calculating volume commissions while at the same time offering a solution to complex models. Calculating volume commissions of insurance agents is one of the most complex challenges for insurance companies, due to the high level of competition in the sector and the need…

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Rami Bakhar

We Are Developing Insurance Per Minute/Ride For Two-Wheeler Riders

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By on MICROINSURANCE, P&C

Q&A with Rami Bakhar, Urban Ride Founder and CEO What is Urban Ride’s Main activity? Bakhar: We believe that every person needs a financial safety net to feel safe and protected when unexpected things happen. Especially when it comes to electric two-wheeler riders who are at risk for more accidents than car and pedestrian drivers. UR insurance allows every rider to protect themselves from financial harm and maintain a current income level appropriate to their lifestyle even in the event of injury and disability.   what are the main characteristics of the Electric bicycle riders? Bakhar: Electric two-wheeler riders…

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Yaron Cohen

Clarity solution lowers the employer’s technological and psychological barriers

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By on L&H, Pension, Systems

Q&A with Yaron Cohen, Clarity CEO What does Clarity do? Cohen: Clarity is a SaaS solution for employer workplace pension duties, with employee’s freedom of choice. Clarity enables Pension auto enrolment with multiple carriers and complex insurance & pension plan. It performs funds transfer (reporting and clearance) to pension and insurance companies and enables working with multi agents and advisors. All these processes are carried out under strict control and monitor of the process. Clarity solution significantly lowers the employer’s technological and psychological barriers; it enables the employers to work with multiple pension companies and agents as if they…

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Property Insurers : Are you eyeing for a data based competitive advantage?

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By on Articles, P&C

By Dr. Upendra Belhe, President, Belhe analytics advisory and Guy Attar, Co-founder & Executive Chairman, GEOX  Property and casualty (P&C) insurance represents $1.6 trillion in premiums (about one-third of the insurance industry).  Industry reports state that the Homeowners’ Insurance segment alone is $105.7bn in 2020. The insurance industry is evolving.  Property and casualty insurance now benefit from risk models that analyze huge and diverse data sets. New data source influencers are emerging in the insurance industry, with the hope to provide the most comprehensive and accurate assessment of a property.  Comprehensive address, parcel and building information; current and historical owners,…

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Gir Or

WhatsApp open rate is above 90%. If you want to get your customer attention, whatsapp is the way

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By on L&H, P&C, Systems

Q&A with Gil Or, Whatsper  CEO What does whatsper do? Or: Whatsper provides a wide solution for businesses seeking to connect and interact with their customers via Whatsapp. We have developed a technology to handle incoming chats, our smart and intuitive bot provides the initial response and our proprietary Whatsper Inbox will allow multiple agents and departments to communicate. What are the benefits of using whatsapp as a marketing system over SMS, mail and other channels? Or: Whatsapp open rate is above 90% in most countries. If you want to get your customer attention, whatsapp is the way.…

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