“Insurtech will grow and mature to be a whole domain separate from fintech”

“In Israel, the insurtech sector is still quite young,” explained Gilbert Ohana, Co-Founder and Managing Partner at FinTLV Ventures, a venture capital fund that is focused almost completely on insurtech. “We have companies, mostly in the early stage of their life, we have obviously very well known insurtech companies like Next Insurance, Hippo, and Lemonade, some of which are part of FinTLV’s portfolio, but when you look at the industry in Israel overall, it is quite immature, quite young in terms of insurtech.”

Fintech proved to be one of Israel’s most lucrative high-tech sectors last year, thanks to the fact it can encompass many sub-sectors that are related to finance, albeit indirectly. Ohana, however, is positive that insurtech will grow into a sector that will be its own branch of the Israeli high-tech scene. “When you look at the challenges of the insurance sector, and you look at what technologies and what innovation is required, different capabilities are coming to place. I believe in the future we will see that insurtech will grow and mature to be a whole domain separate from fintech,” he concluded.

You can watch the entire exchange in the video above.