Start-up nation:
Japan's largest insurance company to work with Israeli companies

Harel Insurance Group was chosen by Japan’s largest insurance company Tokio Marine Holdings to help find Israeli hi-tech companies.

Arutz Sheva Staff,

Tokyo Japan
Tokyo Japan
iStock

Harel Insurance Group was chosen by Japan’s largest insurance company Tokio Marine Holdings to collaborate on finding Israeli hi-tech companies in the innovation and digital sectors. According to this agreement, Harel Group and Tokio Marine will identify Israeli companies that specialize in innovative technologies and services, and will allow Harel Group access the cutting-edge technological infrastructure of Tokio Marine, which is engaged in the technological sectors.

Tokio Marine Group is the largest P&C insurance group in Japan founded in 1879. It currently operates in 38 countries worldwide, and generated 4.6 trillion JPY (150 Billion NIS) revenue in the last year (Net premiums written + life insurance premium ) . It has realized stable growth through well diversified business model with a stable profit base in Japan as well as a strong specialty franchise in developed countries and a business footprint capturing high market growth in emerging countries.

In recent years, the Japanese group is driving innovation based on 3 concepts which are “Mission driven”, “Fusion of people’s power and technologies” and “Global Digital Synergies”.

The agreement was signed between Japanese corporate giant and the Harel Group. Attending the signing ceremony were Mr. Makoto Okada - Executive Vice President, Group Chief Strategy and Synergy Officer, Group Chief Digital Officer, Tokio Marine Holdings Inc, Mr. Yair Hamburger – Chairman, Harel Insurance investments & Financial services Ltd., and senior leadership from both companies. According to the agreement, the two companies would collaborate to identify innovative technologies, products and services in various sectors, including health, cyber, distribution and customer experience, that would be integrated in the insurance’s core businesses. The agreement further established that the companies would share information in various sectors – customer service and integration of technological systems to enhance customer experience, rapid payment of claims, as well as include joint study of the world of cyber.

This collaboration positions Harel as a leading Israeli financial group that integrates state-of-the-art technologies in the group’s business processes. The Harel Group will enable Israeli startups to introduce themselves to investors from Israel and around the world through the arrangement with Tokio Marine, through joint ventures that the companies will co-manage.

Mr. Makoto Okada from Tokio Marine Holdings Inc stated that “We are pursuing new values through collaboration with our diverse partners and we are the most delighted to reach the partnership agreement with a leading company like Harel who can bridge us to Israel innovation eco-systems. We hope that both of us will nurture our win-win relationship and will create the maximum value in this collaboration."

CEO of Harel Insurance and Finance Group Michel Siboni stated that “This agreement will facilitate the integration of other advanced technological developments that will benefit Harel customers and agents, while reinforcing its status in various markets." According to Siboni, “The decision of Japan’s largest insurance corporation to choose Harel as a partner in finding advanced technologies and products is an expression of trust in Harel Insurance Group and in its abilities to find Israeli technologies and companies that are leaders in the field”. Siboni further adds that “the entry of a Japanese corporation into investments in Israeli hi-tech sectors creates vast potential for Israeli start-ups and entrepreneurs, which will develop products and services in insurtech”.

As a result of the Agreement, representatives of Japan’s largest insurance corporation will visit Israel in the next several months to examine Israeli technologies.

Siboni emphasizes that “the Harel Group looks and pushes ahead. We identify technological opportunities and integrate them in an optimal manner for our insureds and agents. The agreement with Japan’s largest insurance corporation will support this goal, in trendspotting and in appealing to new markets with future growth potential.”




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