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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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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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