YuviTal have developed a global digital reward and loyalty platform for behavioral change and customer engagement. they offer organizations a range of different solutions to improve the lives of their members by incentivizing healthier choices by collecting and analyzing real-time data, insurers and reinsurers can save money, improve member health, reduce morbidity, boost retention, and meet members demands and expectations.
The key figures at YuviTal are Alon Silberberg, CEO and Founder, Lior Klibansky, CTO and co-founder, Yaron Levi, Chief Architect and Co-founder and Kobi Berebi, Deputy CEO.
What problem is it meant to solve?
We live in a world where the term sedentary and western lifestyle has consumed our daily lives, understanding this means, beating it, the human body cannot function without proper care whether this be our daily routines, or work lifestyles, a study by the World Health Organization found that more than one in four adults worldwide are physically inactive, which means greater illness, higher rates of morbidity, and higher insurance claims costs. We at YuviTal want to change that.
We noticed a significant gap between the amount of accessible data available in an
insurance business and the policyholder’s underwriting process. In a world full of problems, we are doing our share to serve and improve life so that our world runs as smoothly as possible.
What is your business model?
Our business model is one of simplicity; it is easy to understand, straightforward SaaS, with a very quick and simple one time setup fee and a per member per month subscription.
What investments have been made in the company so far?
Many insurers are currently anticipating an acceleration in economic recovery as a result of the pandemic’s earlier effect. To inspire efficiency and improve business capacities, insurers rely significantly on evolving technology and data sources. With that said, we have discovered that there is a significant lack of proper utilization of real-time data; insurers may not grasp day-to-day behaviors and dangers, preventing them from accessing the much-desired recovery.
There is also a lack of proper connections and communication between insurer and
policyholder,which enables lower retention rates, weakened loyalty, two out of many valuable strengths needed for the successful relationship between insurer and policyholder. Our customers’ minds are also changing; they expect their institutions to be proactive and look after their health. Insurance is changing, as are personal offerings, premiums, real-time data, and user experience.
What is your current business situation?
Our company can be thought of as a bootstrapped company; we have partners in the Israeli market assisting us in the improvement of our product, allowing us to meet more investors; however, nor are we focused on funding; our main concern is to ensure that we provide excellent service to existing clients while expanding our global footprint in the insurance market and continuing to create and strengthen our initiative in the digital health world.
Which companies interest you as business partners?
YuviTal currently maintains just under two million users through our multilingual platform. We collaborate with numerous well-known health organizations and HMO’s, including Clalit (the third largest medical center in the world) and Sheba Medical hospital (ranked top 10 in the world) and we are now commencing our global operation in Europe and the North American market. In a world where gathering and analyzing data requires engaging users, our main strength is engagement in stickiness ratios to which we also broke a world record for.
Which companies interests you?
Life and health insurers and reinsurers who wish to enhance their use of real-time data and digital customer experience, while reducing future claim costs and boosting client retention and loyalty.
How can I, as a leader of a typical insurance company increase our profitability whilst still playing in the field that is controlled by the policyholder?
Know your clients. First, know their risk and health practices. Know their motivations. Risk-free marketing tips. In a digitalized world, it’s crucial to collect and analyze real-time data to better understand your customers’ experiences. Your clients must connect with you consistently to maintain this. Loyalty rewards Proactively help others.
Personalized incentives and rewards will raise firm earnings. YuviTal Health helps insurance firms and reinsurers manage risks and boost profitability by collecting and analyzing data in real time. Our platform balances user experience, incentives, and rewards to collect data in health and life. Today, more than 1.7 million members use our platform. Not only are insurance companies’ profits increasing, but policyholder’s health is improving.