Insurance Companies Are Not Dinosaurs, Clal Exec Says

Insurance companies are in the midst of a technological revolution and are no longer considered dinosaurs, Elite Caspi, deputy general manager of Israel-based Clal Insurance Enterprises Holdings Ltd. said. Caspi spoke Monday at Calcalist and Israel’s Bank Leumi’s Mind the Tech conference in Tel Aviv.

Among the technologies implemented by Clal, Caspi counted a dashcam that alerts the company the minute an accident occurs and provides footage that can help determine who the responsible party was; a mobile app that scores the drivers behavior on the road, offering lower premiums to cautious drivers; and sensors connected to the water consumption meter that can help detect leaks within the wall quickly in order to limit the damage to the property.