Menora Mivtachim Group , in collaboration with InsurTech Israel, hosted the Israeli Insurtech Startups Competition. The winner of the competition, representing Israel in the international InsurTech acceleration program, is Urbanico, specializing in urban data acquisition and analysis for insurance companies.
Michael Kalman, CEO of Menora Mivtachim Group, stated, “Menora Mivtachim Group sees innovation as a crucial and essential strategic axis in the group’s activities and invests significant resources in it. We take pride in witnessing the creativity and out-of-the-box thinking presented by the various entrepreneurs in the competition”.
Menora Mivtachim, a leading player in open innovation in Israel, hosted the competition aimed at selecting the startup to represent Israel in the international acceleration program for InsurTech startups, which will launch in September 2023 with the guidance of top mentors from leading insurance companies worldwide. The competition was held in partnership with InsurTech Israel.
The event took place at the Menora Mivtachim headquarters in Ramat Gan, attended by senior executives of Menora Mivtachim. Michael Kalman, CEO of Menora Mivtachim Group, highlighted the importance of innovation and technology in the insurance industry, as well as the connection to startups.
Kobi Bendelak, CEO of InsurTech Israel, mentioned that there are currently over 200 InsurTech startups in Israel, emphasizing their strength and significance to the industry.
During the competition, 12 selected startups presented their vision, technological development, and business model. The judging panel evaluated the startups based on uniqueness, market potential, scalability, and overall impact on the insurance market.
The winning startup, Urbanico, specializes in urban data acquisition and analysis for insurance companies. They will represent Israel in the global program taking place in early September. This exclusive program will connect startups from around the world with industry leaders from leading insurance companies, providing opportunities for exposure, mentoring, business development, pilots, and integration into the leading global insurance corporations, along with potential funding opportunities from international investors.
The event is a milestone in the Israeli InsurTech ecosystem, showcasing the unique potential of these startups to influence the international insurance industry.
Other presented startups include Blue Cape, ClaimzAI, Effectivate, Gabriel Network, Greeneum, InsureTax, AmplifAIr, OKO, Surance.io, Validit.ai, and Weather It Is – each showcasing innovative solutions in the insurance and technology realms.