Q&A with Yaniv Alfi ,Co-Founder and Managing Director What does PROJAIX do? ProjAIX helps companies to deal with the challenge of processing and analyzing tremendous amounts of visual data. ProjAIX “Fission Engine” uses image recognition technology to extract information from visual data and allow businesses to get fast and accurate insights on their data for business intelligence and business decisions. How did you come up with the idea? (What is the story behind it?) Yuval, Tal and I, spent many years working in the Mobility Industry. Over time we saw the difficulties, challenges, resources and money required to implement BI…
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Q&A with Nitzan lahat, Founder – Mpcheck What does MPCheck do? MPCheck is a company that provides a groundbreaking technology-based service for personalized medical testing and health screenings. How did you come up with the idea, and what is the story behind it? A few years ago, I lost my wife suddenly due an unexpected illness. As a result, I decided to look for a way to leverage existing advanced technologies to make routine health checks more personalized and therefore more effective. Unfortunately, healthy people often skip important medical tests, because the process is inconvenient and takes too much time.…
Israeli-American Insurtech company Lemonad donated 2,303,381$ to 65 Nonprofits. lemonade: “As our community grows, so does the impact. The Lemonade Giveback supports over 100 nonprofit organizations across the U.S. and Europe”.
The WeSure Global Tech technology and insurance company has received two additional licenses to operate in the United States, in Illinois and in Pennsylvania. The company last month received a license to operate as a distribution and underwriting entity in New Jersey. The company says that in each of the states, the license is to operate as an MGA/insurance producer of insurance products. The activity in the USA is coordinated under WeSure Holdings Ltd USA, which coordinates all of the company’s activity in the USA and which is effectively held 100% by the company. The company says that the new…
Q&A with Moshe Brown, Co-Founder at Socalytix What does Socalytix do? There are two areas that we cover, The first issue we cover is in the insurance existing customer base. Insurance companies have enormous amounts of data on their customers, most of it is static data, their issue is that they do not have information about their recent life events (recent family status, work, education, etc.). Due to this reason insurance companies fail to manage their passive clients data base, tending to recruit new clients Vs cultivating existing clients. The painful fact is that recruiting new customers is much more expensive…
The Wolt deliveries platform is transferring its delivery drivers insurances to the Collective Benefits brokerage. Wolt is insuring, as of July 1, its delivery drivers for personal accidents at Lloyd’s via the Collective Benefits brokerage and third party insurance will be covered by QBE, fronted by Harel, with no deductible. The company says that it will finance the cost of the extended insurance, which is estimated at 1,500 shekels in the private market. Until now the delivery drivers were insured for death and disability by Demandoo. The company says that the new insurance will cover fractures that are common amongst…
The Israeli Insurtech Accelerator, which was established by Ayalon, Insurtech Israel and the American BrokerTech Ventures insurance giant, has completed its first Cohort. Participating in the first cycle were: Insurights – which assists insureds in realizing their rights in health insurance Ravin – which is developing a system for remote checking of vehicles GamaSec – which is developing cyber protection systems Serenus.AI – which has developed a system for checking medical decisions and preventing unnecessary treatments CI – which has developed an embedded insurance-based model for selling insurance Five Sigma – which has developed a claims handling platform. The accelerator’s…
Libra is completing a successful share floatation which commenced a few weeks ago. The company reports a heavy response from investors and over-subscription, which led to a cessation of the investor presentations round within just two days, and raising the share price to 10.56 shekels – higher than presented in the prospectus (9.4 shekels per share). Libra is now expected to be floated on a valuation of 450 million shekels before the money – some 50 million shekels more than the initial valuation requested in the prospectus. In the coming year, Libra expects to expand its license to also include…
The Israeli insurtech company Honeycomb (formerly Agilius) has launched its innovative insurance platform in North America, following the raising of 3.3 million dollars, led by the Phoenix, New Era Capital Partners, IT-Farm Corporation and NFP Ventures. Honeycomb is entering a market estimated at 22 billion dollars, offering the customer a simple, efficient and transparent experience in a market consisting of 53 million households in the USA. Honeycomb is the first insurance platform creating a change in the purchasing, underwriting and management of insurance for condominiums. Currently, the purchase of insurance in the USA and over most of the world is…
One of the most difficult problems in the insurance sector is the complexity of insurance products, creating a long and complicated purchase process. Thus, until a few years ago, insurance was sold mainly by agents. The increasing presence of digital tools in recent years has resulted in the development of direct distribution channels between the insurance companies and insurers and a simplification of the purchasing processes, but there is still a need for a transfer of much information between the insured and the insurance company in order to execute the purchase. The connected insurance model succeeds in solving the problem…