Q&A with Efi Binder, Futura Genetics CEO What does futura genetics do? Binder: We make people live longer. We do it by using the power of genetic testing in order to create a personalized preventive care program tailored for each individual’s needs. Futura Genetics has been active for a few years in the direct-to-consumer genomics industry. Last year, we started working on the Futura Life intuitive, which is going to be our main and only focus in the years to come. Futura Life is a disruptive digital health platform based on genetic data, aimed at the use of life…
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Dikla Wagner, head of tech scouting for Munich Re in Israel presented Munich Re’s map for investments in Israeli Insurtech companies during 2020. Wagner told Insurtech Israel News: “In 2020, Insurtech leaders are responsible for mega investment rounds and even an IPO. It is not surprising that those players offer digital insurance products. We can say with confidence that digital product building will continue to accelerate in 2021. This trend articulate customers’ needs and market dynamics during and post covid-19. Also, Israeli claim management & fruad tech received traction during 2020. We hope to see the Israeli players continuing to…
The FinTLV venture capital fund has raised its second fund – FinTLV II. The new 120 million dollar fund will be focusing mainly on growth companies around the world in the insurtech and fintech sectors. FinTLV invested some 200 million dollars in the past year. Investors in the fund include Clal Insurance and Finance, Psagot and Hapoalim Capital Markets as anchor investors, Ayalon, Japanese insurance giant MS&AD and additional insurance companies from around the world, including FWD from Hong Kong, LB from Denmark and Reale Mutua from Italy. Additional investors: BDO Israel, Metrix as a technological partner as well as…
The insurtech accelerator set up by Ayalon, InsurTech Israel and BrokerTech Ventures reports the end of the first stage and registration of 34 start-ups, of which only five will be able to take part in the first session, which is due to commence in April of this year. The selection will be carried out by leading Israeli and international experts in the business environment of the world of insurance, technology and investments, who will also be acting as mentors to the entrepreneurs and will assist them in presenting business propositions to investors and insurance companies in Israel and abroad. The initial…
Q&A with Oshrat Ben Moshe, Ginger Founder and CEO What does Ginger do? Ben Moshe: 𝐆𝐢𝐧𝐠𝐞𝐫 is a 𝐬𝐭𝐚𝐫𝐭-𝐮𝐩 providing an innovative solution for the sector related to 𝐡𝐞𝐚𝐥𝐭𝐡 𝐚𝐧𝐝 𝐭𝐫𝐚𝐯𝐞𝐥. Based on a digital platform, an app, allowing control and management by both employer and the employee. Ginger is currently operating in dozens of leading high-tech companies, providing response and service for tens of thousands of employees. By using technological and complementary services targeting not only health and travel issues but including 𝐰𝐞𝐥𝐥𝐧𝐞𝐬𝐬 𝐚𝐧𝐝 𝐰𝐞𝐥𝐥𝐛𝐞𝐢𝐧𝐠 benefits, we are able to create a 𝐬𝐢𝐧𝐠𝐥𝐞 𝐢𝐧𝐭𝐞𝐫𝐟𝐚𝐜𝐞 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐢𝐧𝐪𝐮𝐢𝐫𝐢𝐞𝐬 of…
Click-Ins announced that insurers and automotive companies can now access AI powered vehicle inspection as a 1-Click solution on the Claim Technology marketplace. Click-Ins innovation is based on a Hybrid AI approach using pre-trained simulated data produced and proprietary owned by the company to train its AI modules together with multidisciplinary technologies such as, deep learning, photogrammetry, 3D modeling, applied mathematics and computer vision. This is a new addition to Claim Technology’s 1-Click Insurtech platform, which allows insurers to consume dozens of solutions from best-in-class insurtechs, all through a single API. The company is working with insurtech startups to help…
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…
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…
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,…
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…