Insurtech Israel News
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Insfocus CEO
Uri Taiber, Insfocus CEO

InsFocus Provides A Unified Environment For All BI Needs for Insurers

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By on AI, BI, Big Data, L&H, P&C, Systems

Q&A with Uri Taiber, Founder and CEO at Insfocus What does InsFocus do? Taiber: InsFocus is a suite of insurance data related solutions, ranging from reporting & analytics to employee incentives & agent campaigns. It is used for both P&C and L&H insurance domains. Where do you extract data from? Taiber: We extract data from the various source systems of insurance companies – policies & claims admin systems, workflow systems, accounting systems. The product is built around a centralized enterprise data warehouse that extracts the data from those source systems. Is InsFocus software limited to any specific…

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Yuval Shafrir

Yuval Shafrir, Urbanico’s CEO: Urban Data Can Serve Various Types Of Use Cases For Multiple Insurance Segments

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By on AI, Big Data, P&C, Systems, Underwriting

Q&A with Yuval Shafrir, Urbanico’s CEO & Co-founder What does Urbanico Do? Shafrir: Urbanico is building a smart-cities’ data fusion platform, helping insurance companies with efficient utilization of hyper localized urban data, to improve risk assessment processes on both actuarial and underwriting levels. How can this Data of Information can help Insurance companies? Shafrir: As opposed to industries such as automotive and telco, that have reduced their unit costs by more than 50% over the past 15 years, administrative cost per policy for the P&C insurance industry has remained unchanged or even increased. Technological advances in ML and…

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Wepy Is Developing A self-Insurance Platform For Businesses And Communities

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By on L&H

Q&A with Henry Hazan, Wepy Founder and CTO What does Wepy do? Hazan: A Platform for business and communities to self-insure, instead of purchasing an insurance policy. What are the benefits for the employers? Hazan: Back office to manage the claim process, actuary algorithms for every coverage optimized for his members, 60% cost cutting on insurance,  custom coverages. What are the benefits for the employees? Hazan: settlements in 8 seconds (for claims managed by AI), 100% digital claim experience [digital signatures + chat], TPA built on demand. Which technologies are being used in wepy? Hazan: Microservices,…

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Direct Corona Impact – Significant Growth In Israeli Insurtech Sector

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By on news

There is no doubt that Corona, alongside the huge challenges and the damage to extensive areas of the economy, also resulted in massive development of the technological and digital aspects of the world of insurance. The main gainers from the technological push are the insuretech companies, who develop digital systems for the insurance companies and the agents or those operating in the area of direct insurances vis-à-vis the end customers. In 2020 Israel has strengthened its position as one of the global insuretech capitals, with a number of the world’s leading companies in the sector being Israeli – for example…

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Israeli Insurtech start-up OKO distributes 38 million FCFA to Malian farmers affected by floods

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By on P&C, PARAMETRIC INSURANCE

OKO’s new insurance service is making a big splash for its inaugural season in Mali, reimbursing the losses suffered by farmers. A good example of the possibilities offered by mobile and satellite technologies to provide an essential service to the most vulnerable populations. Heavy rains in Mali in July and August had disastrous consequences for farmers. However, some farmers can rejoice: they insured their fields at the start of the season, and immediately received compensation for their losses. Crop insurance is a new service brought by the young innovative company OKO. OKO has established a partnership with Orange and SUNU…

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Dikla Wagner, Munich Re's head of tech scouting

MAPPING THE ISRAELI INSURTECH ECOSYSTEM AND INVESTMENTS / By Dikla Wagner

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By on Articles

The Insurtech ecosystem in Israel is growing very fast, with about 100 companies currently in this field. Israel is home to the world’s leading Insurtech companies and has seen mega-investment rounds. Lemonade completed its Initial Public Offering in July 2020. The company priced its IPO at $29 per share, raising approximately $319 million at a market capitalization of approximately $1.6 billion. Next insurance raised $250 million led by Munich Re, and recently announced another $250 million round led by Capital-G with participation from Munich Re. Hippo raised $350 million led by Mitsui Sumitomo. Mitsui also provided Reinsurance Treaty. The rest…

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Uri Keren

Automatically Detect, Analyze And Process External Vehicle Damage

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By on Claims, P&C, Systems

Q&A With Uri Keren, CRO at Click-Ins   What does Click-ins do? Keren: Click-Ins is the next-generation AI automatic vehicle damage inspection solution that enables insurance and car companies to automatically detect, analyze and process external vehicle damage, at high precision and consistency, without the need for special equipment or skilled personnel. We already work with the leading insurance, car rental, car share and car fleet companies, helping them to reduce touchpoints, automate decisions, reduce fraud & risk, and increase customers’ satisfaction. Click-Ins Hybrid AI technology is based on a multidisciplinary approach which combines our unique capability to pre-train our own…

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Omri Yacubovich, Planck
Omri Yacubovich

Planck Provides All The Answers To Commercial Insurance Applications And Underwriting Questions

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By on AI, Big Data, P&C, Underwriting

Q&A with Omri Yacubovich, VP Business Development & Marketing at Planck What does Planck do? Yacubovich:  Planck takes a business name and address and creates hundreds of risk related insights or in other words, Planck provides all the answers to commercial insurance applications and underwriting questions, using publicly available information and proprietary artificial intelligence capabilities. The data that Planck creates serves both business owners and insurance companies to provide the most accurate pricing and coverage, dismissing long and time-consuming questionnaires. This results in frictionless onboarding processes and better pricing for business owners which leads to more business for the carriers,…

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Yair-Ravid
Yair Ravid

A Seamless Cloud-Based Solution For Mid And Large Enterprises To Conduct And Close Business Remotely

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By on news

Q&A with Yair Ravid, Reach founder and CEO what does Reach do? Ravid: REACH is an innovative next-generation digital business management start-up. The platform offers a seamless cloud-based solution for mid and large enterprises to conduct and close business remotely. The solution’s simplicity, both for the operator and customer, essentially provides a face-to-face, in-person transaction experience, complete with the human touch! REACH is a next-generation collaboration platform that allows companies of all sizes to collaborate and support customers and teams (and various other use cases) in real-time sessions and to conduct business, remotely and instantly (as opposed to asynchronously via…

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Jake Levant
Jake Levant

Improve Customer Experience And Efficiency, Through Faster Turnaround Times, Higher Completion Rates, And Higher NPS

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By on Systems

Q&A with Jake Levant, VP Marketing at Lightico what does lightico do?  Levant: Lightico helps its insurers improve customer experience and efficiency, through faster turnaround times, higher completion rates, and higher NPS. Lightico creates a virtual collaboration window between the business and their client easily and securely on their mobile device, where they can share and receive documents, and process eSignatures, payments, identification and verification (ID&V) and more. This delivers unique value for insurers as they improve their sales efficiency and streamlines their claims processes. what are the main industries lightico is approaching to? Levant: Lightico works primarily with…

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