Ilan Flax – COO – Ivy League Graduate. Ex – Professional Soccer Coach and multiple time founding team member
Company Overview
What inspired you to start this company?
The goal of Insait is to redefine customer interactions and streamline onboarding processes in banking and finance using AI-powered solutions. This focus stems from the need to address inefficiencies, such as complex onboarding that leads to high abandonment rates.
Product and Innovation
What is your main product or service?
Insait’s main product is an AI-powered agent that guides users through complex processes like loan applications, account openings, and insurance claims, improving conversion rates and customer service.
How does your product differentiate itself from existing solutions in the market?
Insait differentiates itself by offering “human-quality” conversations through AI, going beyond basic chatbots. It provides personalized, contextual interactions that mimic the experience of speaking with a live agent.
Can you share any unique features or innovations your product offers?
Key features include:
- Making all revenue interactions conversational : Insait’s AI engages users in a more personalized, interactive manner to open products that provide millions in revenue to customers.
- Build it yourself: Provide Professional training to your representative with your tone, information and tone.
- Advanced Persona Classification and Analytics: The platform offers insights into user behaviors and conversion rates, empowering businesses to optimize their processes.
Market and Problem-Solving
What specific problem are you addressing in the insurance industry?
The core problem Insait addresses is the inefficient, complex onboarding and application processes for products. These bottlenecks lead to high abandonment rates, with users dropping out due to lengthy forms and poor user experiences.
Who are your target customers, and how do you reach them?
Insait targets financial institutions, including banks, lending companies, and insurance providers. We reach these customers through direct sales, partnerships, and potentially industry events or collaborations.
What is the market potential for your solution?
Given the industry’s growth and ongoing digital transformation, Insait is positioned in a high-potential market. As businesses seek to automate and improve customer service, the need for efficient, AI-driven solutions like Insait is significant. The market potential is also amplified by growing consumer demand for faster, more personalized experiences.
Business Challenges and Solutions
What are the main challenges you have faced so far within the insurance industry?
A key challenge is addressing the industry-wide issue of lengthy, complex forms that frustrate customers and lead to abandonment during processes like loan applications and insurance claims. Ensuring the solution handles sensitive, high-stakes conversations in a trustworthy manner is another significant challenge.
How have you overcome these challenges?
Insait has overcome these challenges by focusing on building an AI solution that mimics human-like interactions, offering real-time support, and incorporating sentiment analysis to improve user experiences. Their approach reduces complexity and enhances customer engagement.
Current Status and Future Plans
What is the current status of your company?
Insait is currently operating in the United States, Israel and Australia. There are team members in each location.
What are your key milestones for the next 12 months?
Insait aims to improve its footprint in the United States.
Do you have any upcoming product launches or major updates planned?
None to disclose.
Team and Culture
Can you introduce your founding team and their backgrounds?
Dvir Ginzburg CEO – Phd in Computer Science. Ex Microsfot and Meta.
Ilan Flax – COO – Ivy League Graduate. Ex – Professional Soccer Coach and multiple time founding team member.
How does your team’s expertise contribute to your success?
Our CEO is a PhD in Computer Science and has years of experience in customer interactions at Microsoft. In addition, our LLM team lead worked is an ex-Copilot team lead (Microsoft). In addition, our team has been working in this new space for nearly three years and are now leading experts in the field of LLM technology.
Funding and Investment
Have you secured any funding to date? If so, from whom?
Yes. Since foundation in Apirl of 2022 Insait has raised just south of $8M. This has come from Banks and a few VC’s.
Are you currently seeking additional investment? If yes, how much and for what purpose?
Yes, Insait is raising a Series A round starting in November, 2025. The main purpose is to grow in the United States and expand the capabilities of the business.
Industry Insights and Trends
What are the biggest trends or changes you see happening in the insurtech industry?
A major trend is the increasing demand for AI-driven automation in customer service and onboarding processes. Companies are looking for ways to reduce friction and improve conversion rates through technology.
How do you see the insurance landscape evolving in the next 5 years?
The insurance landscape is expected to evolve towards greater automation, with AI-driven solutions playing a significant role in streamlining processes and improving customer satisfaction. Opening of products will change drastically and the need of a human in the loop is unlikely to continue.
Unique Selling Proposition
What is one thing you want potential customers or partners to remember about your company?
The way in which customers open up new accounts and interact with your company is changing. The future is conversational, and now is the time to invest in automated revenue generation tools.
