This article showcases our top picks for the best Israel based InsurTech companies. These startups and companies are taking a variety of approaches to innovating the InsurTech industry, but are all exceptional companies well worth a follow.
We tried to pick companies across the size spectrum from cutting edge startups to established brands.
We selected these startups and companies for exceptional performance in one of these categories:
- Innovative ideas
- Innovative route to market
- Innovative product
- Exceptional growth
- Exceptional growth strategy
- Societal impact
Top Israel InsurTech Companies
CallVU addresses the business need of diverting calling customers to digital self-service. Our Digital Engagement Platform reduces the call volume placed on contact centers, ensures higher usage of digital assets and offers an enhanced customer experience.
CallVU’s advanced suite of Digital Engagement Platforms comprises Visual-IVR, Conversational-IVR, Agent-Caller Collaboration, Service BOT, and Digital Forms. Each one blends rich digital and interactive media with web, voice and social channels.
Founded in 2012, CallVU has supported leading global organizations in the financial, insurance and telecom sectors to maximize the value of their digital assets while improving operational efficiency. CallVU has operations in the United-States, the UK and Israel.
The company was selected as “Cool Vendor in CRM and Customer Support, 2016” by Gartner and was named one of the “20 Most Promising Digital Experience Solution Providers in 2017” by CIO Magazine.. .
Bambi’s data driven white label cloud platform enables insurance companies, mobility service providers, OEM’s and their ecosystem to offer their consumers dynamic, friendly and quickly implemented vehicle insurance products with a new approach for product offering and customer engagement. Fitted to the fast-changing mobility and transportation landscape, the platform provides assembling and operating personalized insurance products for private and commercial vehicles, new mobility models like MaaS, ride-hailing services, car-sharing, e-scooters, delivery and other future models.
Being in the intersection of the new mobility/insurance ecosystem, with data & connectivity, and with flexible product design, we enable to create new appealing digital insurance products that could not be created before. Working in B2B2C and B2B models, we characterize the insurance products with our partners, setup the platform, integrate it with the IT systems and with the relevant data points.
With omni-channel capabilities and cross platform applications (web, mobile apps), we offer a full suit including underwriting, pricing, policy admin, operations, initiation of claim processes and more. Our personalized insurance products are amongst others characterized with On-Demand and UBI solutions for motor and none-motor insurance products in the P&C insurance business lines..
LitiGate offers an argument analysis solution for dispute resolution using advanced AI algorithms. The company aims to revolutionize the conduct of litigation by delivering contentious legal services faster, at less cost, and with improved accuracy.
Its end-to-end platform automates repetitive tasks and reveals untapped information from your case so you can focus on what matters most. LitiGate was founded in 2017 and has offices in London and Tel Aviv..
Serenus.AI has a strong passion to improve healthcare delivery and patients’ outcome. Its unique patented technology was developed to improve medical treatment decisions, saving lives, and valuable resources.
Among the Serenus.AI team are top medical experts from various medical fields and machine learning specialists. The innovative solution was already validated in practice and the company is currently active in Europe and the US with leading stakeholders in the healthcare field.
The company received grants from 4 government entities in Israel who validated its innovation and technology, including the Ministry of Health, Ministry of Economics, the Innovation Authority, and the Bilateral US-Israel Bird Award. Please also see articles about our solution: https://www.extra-mag.co.il/making-an-informed-decision/ https://www.yorkshireeveningpost.co.uk/health/can-smart-robot-match-surgeons-skills-leeds-researchers-will-find-out-2005357 https://datarootlabs.com/blog/ai-in-healthcare-how-ai-startups-disrupt-the-healthcare-industry Hillary Orly Harel | CEO and Co-Founder of Serenus.AI: Winner | Winner of Department for International Trade (DIT)’s first-ever “2020 European Women in Tech” Finalist | Winner of Quesnay’s Female Founders in InsurTech 2020″ Named | Winner of Top AI start-up company in “Healthcare Innovation Landscape 2020” Data Roots Labs report Named | Winner of 58th Most Influential Woman in the Tech World.
RemitRix provides Machine Learning solutions to allow portfolio managers to balance risk against performance, risk managers to better manage their risk map and actuaries to improve their internal models and to optimize solvency capital requirements for life insurers. The company’s solutions automatically analyze the data, providing a more comprehensive risk assessment than traditional selective approaches.
It provides insurance companies with a holistic risk management tool that helps insurers make compliant, efficient, and accurate predictions regarding capital and risk capital. RemitRix was founded in 2017 and is headquartered in Ramat Gan, Tel Aviv..
Vesttoo specializes in data-driven risk management solutions for the P&C and L&P markets, using cutting-edge technologies to transfer general insurance, lapse, mortality and longevity risk to the capital markets. The company provides insurers and pension funds with affordable, strategic risk transfer to the capital markets, while investors benefit from uncorrelated, high-yield investments with remote loss possibilities.
As a one-stop-shop solution provider, Vesttoo handles every aspect of the deal using its cutting-edge proprietary AI and machine learning stochastic algorithms, creating highly accurate risk models and forecasts. Vesttoo’s advanced risk-modeling technology transforms the way securities are structured, offered, and traded, providing an accessible, flexible, scalable, and affordable streamlined alternative to traditional reinsurance.
Our vision is to create a world where insurance and alternative capital are fused and globally accessible. .
Parametrix Insurance provides insurance policies covering third-party IT downtime events such as cloud outages, e-commerce downtime, payment failures, and other disruptions from SaaS, PaaS and IaaS platforms. The parametric policies we offer are simple: hassle-free claims and quick payments.
We provide technology-reliant businesses with the liquidity and business continuity they need to quickly recover after downtime occurs. Powered by robust monitoring systems and precise risk aggregation capabilities, our solutions leverage deep actuarial and data science expertise to provide new and innovative insurance policies that meet the needs of modern businesses..
Five Sigma is a B2B insurtech start-up which changes the way claims are being managed. Its end-to-end, SaaS data-driven claims management system helps ensure better customer experience, while cutting costs, and reducing loss ratio.
It helps insurers leverage their claims experience to gain new insights into pricing, underwriting, and risk management. Founded in 2017, Five Sigma leverages SaaS methodologies and unique data modeling to help transform the claims management process.
It is headquartered in Tel Aviv, Israel.. .
Qlarium provides a platform of advanced data and assessment of risks for international trade and global sourcing services. It checks the levels of risks of suppliers, and notify the buyers if anything changes.
It delivers the services on the intelligence of businesses and the security of trade for companies that trade overseas through the use of its proprietary supply-chain-optimized artificial intelligence coupled with its logistics industry expertise. It monitors suppliers online so that they can trade safely..
NSure.ai Payment Assurance
NSure.ai uses an advanced AI technology to provide merchants with insurance-backed protection against digital gift-card fraud. The company offers unparalleled performance with an unprecedented pricing model.
It is able to cut false positives, maintaining manual review to 1% and less while keeping CB rates below 50 basis points. With NSure.ai, users will increase their revenue, deliver the best customer experience, and improve loyalty.
It is headquartered in Tel Aviv, Israel.. .
The processes of Underwriting and Claim Adjustment are labor-intensive and error-prone. Insurance companies need to read and analyze hundreds of medical documents per case and to outsource the work to an expensive third-party medical reviewer.
DigitalOwl developed an AI system for underwriters and claim analysts, primarily working with health-related insurance products such as Life, Disability/Income Protection, Workers’ Compensation, Health, Accident, and Voluntary/Supplemental products. The system reads, understands, and analyzes medical documents automatically and quickly.
Using a state-of-the-art NLP engine, the system extracts the relevant medical information that is necessary for assessing risk or managing a claim. A deep understanding of the medical text creates a detailed and complete set of medical data points in a robust, summarized format for the underwriter or claim analyst, allowing them to focus their valuable time on making better decisions, faster.
The entire insurance industry is based on data and statistics. Why only use a small portion of the relevant data when you can have it all?.
Demandoo caters for the fast-paced, flexible economy of today. We provide tech-based customized on-demand usage-based insurance customized for gig, mobility and shared economy businesses.
Whether your business uses e-scooters, bikes, shared cars, vans, fleets, freelancers or any flexible or temporary workers we have a solution for you. Our solutions combine cutting-edge technology with dynamic insurance products.
This allows us to create solutions which are flexible, affordable, simple, having in-built safety features and tailored to your needs.. .
Gefen develops tools and provides digital services for global organizations that operate through tens of thousands up to millions of subsidiaries. Its core solutions supply website-based business process management platforms that include marketing and internal management operation.
It is helping enterprises enter the digital economy and unlock new competitive advantages. The platform enables large and distributed enterprises to gain control over their digital presence and become customer-centric organizations..
FamilyBiz is a FinTech system which gives its users advanced social financial tools. The purpose of this system is to allow the user to gain control over the family and individual economics.
The software allows the users to run a current budget with a personal and comparative report system by using special bots and algorithms, the system builds a business plan for the users to help them realize financial goals, all based on the personal data of the client and information on market offers.. .
Salient Eye has developed a multi-platform technology that enables anyone to turn any unused smartphone/tablet (Android or iOS) into a personal security or monitoring solution (such as Home Security, Baby/Elderly Care Monitoring, etc.) with an online connection to a 24/7 Control Center. They have more than 1.3 Million organic downloads worldwide, among them are thousands of premium paying users – that, with no marketing efforts.
and their users love them – they have a rating of 4.4 (out of 5) from 17K users. Also, they support 20 languages.
How it works: their app uses the device’s camera to sense motion and then immediately takes photos of the scene and sends the user an instant alert via Text and email with a link to the images. In case of a burglary event – the user can send the photos of the burglary event online to a 3rd party’s 24/7 Control Center.
Their Go To Market strategy is B2B2C – they are partnering with a large security company in South Africa and a few more strategic partnerships are in their pipeline (including one of the largest Insurance companies in Europe).. .
Ledgertech is an InsurTech innovator, leveraging blockchain technology to revolutionize the insurance value chain. It is a powerful combination of Blockchain, Smart Contracts and Data to securely connect insurance ecosystem participants.
Ledgertech aims to automate and streamline core reinsurance and claims processing to reduce cost; extract more value from investments in digital apps, AI/ML; and capitalize on decades of expertise and information by integrating legacy systems and data. AG LedgerTech Systems was founded by Eran Tirer in 2018..
TrueNorth Systems is a computer software company that provides cargo stakeholders with an AI-based cargo claims management system. The company is driven by its mission is to use their innovative platform to revolutionize the cargo insurance industry by drastically improving the efficiency of how cargo claims are handled within the entire global container shipping industry.
The company was founded in 2017 and headquartered in Tel-Aviv, Israel.. .
Trusty is an insurance company that offers life insurance, health insurance, mortgage insurance, and other insurances. The company also offers you an innovative, personal and objective way of choosing insurance to compare dozens of offers from insurance agents, and from there, continue with them on a personal phone call.
In a short and simple process, you can define the insurance you want to do, choose the insurance agent from a list of rated agents and get both the best price and the most professional service. Trusty provides a quick, effective and focused service to receive insurance quotes from a wide range of insurance agents, who work with a wide range of insurance companies and hundreds of insurance products, all in this chaos is a single site that needs to concentrate all information, simplify it and provide details To consumers..
2TeaM’s main goal is to develop a variety of state of the art software solutions which will be used in the insurance and financial market in Israel. The company will be a market leader in offering products, solutions and added value outsourcing services for the majority of the insurance and financial companies in Israel.
The pension market segment is facing major changes all over the world as a result of the enormous increase in life expectancy in the near future. 2TeaM will lead the technology changes to support and provide solutions for those changes.
Based on 2TeaM know-how, products, and customer base, we shall sale also complementary outsourcing services. The outsourcing services will expand from the maintenance of 2TeaM products to BPO (Business Process Outsourcing).
In order to strength 2teaM BPO capabilities, we shall act to represent in Israel a global company.. .
Tugger is a B2B InsurTech company based in Tel Aviv that provides inner city towing coverage in the event your customer has parked illegally and their car was towed. As a tourist or a local in an unfamiliar city, it can be easy to park in the wrong place.
Illegal parking results in a time-consuming and expensive process: locating the car, getting to the impound lot, paying a towing fee and parking violation ticket. For a tourist unfamiliar with the local language and system, finding their towed car is nearly impossible.
Our white-labeled City Towing Insurance (CTI) product helps auto insurance, car rental, and roadside assistance companies take better care of their customers. With CTI, your customers get help finding their cars, and reimbursed for towing fees..
PolicyPup is a full-stack insurance company making auto insurance more affordable by utilizing artificial intelligence and human factor engineering. By replacing inefficient legacy systems and brokers with machine learning and humaneering, we’re bringing those savings back to our customers.
More importantly were an insurance company built for people, by people, finally bringing insurance customer satisfaction into the modern age :). .
Med Shield develops a mobile platform solution designed to provide its customers peace of mind while traveling. The app enables users to activate personalized travel insurance, find and access medical service providers, make direct calls to emergency services, manage interactions with insurance companies, and provide doctors with their medical profile.
They address stressful situations, medical, and others, with swift and accessible solutions. Its platform offers location based direct call to emergency services enabling users to get in touch with doctors, telemedicine services, hospitals, pharmacies, and dentists..
SupeRevenue focuses on predicting the behavior of customers in the industry of insurance. It aims to offer its models to the whole financial industry that include banks.
It has the ability to use information from applications and wearable devices to develop comprehensive customer profiles and provide insurance companies with the ability to influence their customers’ performance with incentives. It uses machine-learning technology to enable personalized risk management and real-time pricing solutions..
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