After our visit to London this week, which included meetings with key people in the InsurTech world and culminated in the mentors day at Startupbootcamp and after meetings we had with the innovation delegation of the British insurance company Aviva during their visit to Israel and I have a number of insights
There is a great expectation and openness in the insurance world ( 360*) for innovation. All market players note this
There is an active and vibrant InsurTech industry in Israel and in the entire world of entrepreneurs who want to bring technological improvement in the insurance world in order to adapt it to the needs of customers and to increase the profits of the companies.
The industry is under the scrutiny of many players including investment funds, insurance companies, reinsurers, leading global consulting and strategy firms, brokers, venture capital funds and more
However, the industry is not mature enough at this stage to apply the required change and the question is whether the change will come within the framework of traditional insurance companies or that it will come from external sources or the two paths will work side by side in the coming decades.
I can say with full confidence that the world of the InsurTech is in a tremendous momentum and is one of the hottest areas in the technology world today.
On the Mentors day in Startupbootcamp program in London, we met entrepreneurs who are determined to change and who have a strong desire to succeed. The entrepreneurs we met sharpened these questions and insights. entrepreneurs of all ages and from many countries are developing instinctual solutions and are very interested in the challenges facing the insurance industry in the coming years. It seems that preparatory work and proper selection were carried out in the program
We InsurTech Israel the largest Insurtech fund in Israel’s with our portfolio companies is a very good starting point