- Newslink Global Insurance Trends-The Week
- The insurance industry is joining forces with technology companies and governments in a World Economic Forum-led initiative to avoid catastrophic levels of uninsured risk in the innovation economy
- Zurich publishes a new report-‘Embracing the income protection gaps challenge: options and solutions’
- ICMIF report indicates UK mutuals outperformed rest of the market in 2016-premiums up nearly 10%
- Standard & Poor's revises outlook on Lloyd's to negative from stable
- IBM building an industry-first insurance platform on the IBM Cloud that aims to improve the processes and economics for new product development, underwriting, and benefits delivery-collaborating with MetLife and Majesco
- 4th Annual international Conference on AI and Analytics for the Insurance Industry attracts over 200 international experts expired
- FICO announces that the latest version of its FICO Enterprise Security Score is twice as accurate at predicting a data breach as the previous model expired
- Octo Telematics to acquire the usage-based insurance(UBI) assets of Willis Towers Watson expired
- CII names Trott as new chair of the Claims Faculty Board expired
- LMA responds to Justice Committee on Ogden Discount Rate proposed change expired
- Aviva to sell its Taiwan JV stake to partner following a strategic review expired
18th June 2017
Celent releases new report on InsurTech in Israel
Celent has released a new report entitled "InsurTech in Israel: Global Implications". The report was written by Donald Light, a Research director in Celent’s Insurance practice.
Israel is a small country that is a global leader in technology and VC-fueled startups. In March 2017 Intel paid over $15bn to acquire Mobileye(a provider of key technologies for autonomous cars). Even before this transaction, Israeli InsurTech activity had been booming. This report describes the foundations of that activity, and what it means for the global insurance and InsurTIch sectors.
The past two years have seen rapid growth in Israeli insurTech activity focusing on underwriting, fraud/analytics, distribution, and cyber-insurance. FinTech has the ability to draw on the strengths of Israel’s startup ecosystem, including strengths in security, mobility, and technical skills developed in elite Israeli military units.
“Given Israel’s combination of geostrategic challenges, outstanding technical and scientific education, major presence of global technology firms, and an army which exploits technological advantages, it is not surprising that many startups in Israel focus on two major themes: cybersecurity and fraud,” Light said.
“Each element of the startup ecosystem, such as very good technical education, is present in Israeli InsurTech,” he added.
Marsh Mac Trends(705 articles)