Seenity is a leading AI-powered data platform designed for best-in-class risk assessment. Seenity’s unique solution allows organizations to conquer data blind-spots and better mitigate risk by enabling access, identification and analysis of internal and external alternative data, in real-time, within a fully digitized workflow. Our platform empowers organizations with full control over external data sources and provides automated, actionable insights to boost performance and profitability, quickly and easily, while keeping risks low and consistently in check
The company were founded by Oren Atia, CO CEO, Yossi Tal, Co CEO and Elad Palensia, CTO.
This article is a part of a series of articles presenting the Israeli delegation to the ITC conference.
from the right: Oren Atia, Elad Palensia and Yossi Tal
how do you see the current situation in that area on the insurance industry today?
The insurance industry is primarily built on risk assessment completed by non-automated processes that involve human decision making, which in many cases results in an imprecise, inconsistent, and long underwriting process. Traditional insurance companies now implement AI models that rely heavily on internal data. However, they exclude the immense potential that exists in the unstructured information in cyberspace; which may shed light on additional and unforeseen underwriting risks. The Seenity system synthesizes this process into a single, uniform, and accurate platform that uses relevant information collected in real time.
What investments have been made in the company so far?
There were two rounds of capital raise to date. After both rounds, The company raised a total of $5.2M from Phoenix, a leading insurance company and LIC VC. The last capital raise ended on June 22.
What is your current business situation?
Seenity has several paying customers primarily in the insurance and financial industries. The Phoenix, Avis , GAMA, MRICAR. Two additional financial players in Israel are in the process of signing a contract. Seenity has revenues in excess of $1. The company is working in parallel to recruit customers from international markets, with an emphasis on the American market.
Which companies interests you as business partners?
Companies that supply advanced technology to insurance companies could incorporate our platform during the underwriting process, reinsurance companies and advisory companies servicing both financial and insurance companies.
Which use cases can be supported by Seenity platform?
The Seenity platform could be implemented in many use case scenarios. Risk assessment and pricing have been developed and are in use currently in the luxury car insurance, business insurance, directors, credit card, and fraud detection businesses. We predict more growth opportunities in Healthcare, Retail, Government and Financial Services.
