Three Israeli-founded insurance coverage tech firms had been listed as a part of Forbes’ high 50 most modern firms within the monetary trade printed final week.
The checklist seems at US firms “making it simpler, quicker and cheaper to make use of monetary providers” and consists of “startups with good concepts, regardless of how small,” based on the publication. Forbes stated this yr’s checklist, its fifth annual round-up, had 19 newcomers and 13 firms price greater than $2 billion.
The three Israeli-founded firms are:
- Hippo Insurance coverage, the Palo Alto-based firm that permits householders to obtain correct insurance coverage quotes constructed on public information units from municipal constructing information, satellite tv for pc imagery, and good residence units. Hippo was based in 2015 by Israeli entrepreneurs
Assaf Wand, the corporate’s present CEO, and Eyal Navon. The corporate acquired Sheltr, a US-based residence upkeep platform, final yr. Hippo is valued at over $1 billion (one in all 30 unicorn firms based by Israelis)
- Subsequent Insurance coverage, additionally Palo Alto-based, supplies digital, small enterprise insurance coverage protection throughout the US. It gives normal legal responsibility, skilled legal responsibility, industrial auto and staff’ compensation protection with immediate, 24/7, on-line entry. Subsequent Insurance coverage was based in 2016 by Alon Huri, Man Goldstein, and Nissim Tapiro and is valued at over $1 billion at this time.
- Lemonade, the New York-based insurance coverage supplier based in 2015 by Shai Wininger, additionally a co-founder of Fiverr, and Daniel Schreiber. Lemonade makes use of behavioral economics, synthetic intelligence and chatbots to ship renters and householders insurance coverage insurance policies, and deal with claims rapidly for customers in almost two dozen states throughout the US. It gives renters insurance coverage beginning at $5 per 30 days, and householders insurance coverage beginning at $25 per 30 days. The corporate introduced earlier this month that it could start providing pet insurance coverage (for cats and canine) within the subsequent few months pending regulatory approval. Lemonade is reportedly valued at over $2 billion.
Israeli-founded digital funds firm Payoneer, based in 2005 by Yuval Tal, additionally featured in Forbes checklist. Payoneer permits companies to ship and obtain cross-border funds electronically and its shoppers embody Google, Airbnb, and Amazon. The corporate has places of work in Israel, India, Japan, the UK, and the Philippines, and is headquartered in New York Metropolis.