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Japanese firm taps Israeli AI startup to automate commercial insurance

Japanese firm taps Israeli AI startup to automate commercial insurance
timesofisrael.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesofisrael.com Daily Mail and Mail on Sunday newspapers.

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Big in Japan conference highlights Israel-Japan tech cooperation

Big in Japan conference highlights Israel-Japan tech cooperation
globes.co.il - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globes.co.il Daily Mail and Mail on Sunday newspapers.

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Insurance powerhouse Sompo signs strategic collaboration with Parametrix to insure e-commerce stores

Japanese insurance giant Sompo has launched a new insurance product to insure e-commerce stores on platforms such as Yahoo! Shopping, Shopify, and Amazon, based on the technology of Israeli startup Parametrix. Paramatrix s plan is to provide service to millions of customers in Japan and the Far East over the next few years, thanks to the collaboration. The project was created and agreed upon during the Covid-19 pandemic solely through Zoom meetings.
Parametrix specializes in insurance policies in the event of cloud-based crashes or downtime, ensuring that companies with mission-critical services in the cloud can quickly recover from IT downtime events. The startup, which raised $17.5 million earlier this month from FirstMark Capital, and F2 Ventures, was founded two years ago and has more than 30 employees in offices in Israel and around the world. The company offers its insurance products in Israel, the U.S., and Europe, and now with the collaboration with Sompo is expand ....

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"The flow of Japanese companies and investors to Israel started long before we established ties with the Gulf states"

Sompo launched its activity in Israel in 2018 and has since understood that it needs to expand, said Yinnon Dolev, Head of Sompo Digital Lab Israel during an interview at the Mind The Tech TLV 2020 online conference. Sompo is a big Japanese company that is active in 30 countries, but what is interesting about it is that its management has placed an emphasis on expanding its products and services beyond the insurance industry. And this is where we come in. Our center is one of three global centers located in Silicon Valley, Tokyo, and Tel Aviv, and our goal is to locate Israeli technologies, create international partnerships, and of course to invest. We make venture capital investments and create partnerships, as well as set up new companies. ....

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