Xceedance, the leading provider of strategic insurance consulting and technology serving insurance organisations globally, has announced aits collaboration with the Israeli Insurtech Accelerator (IIA) at Insurtech Israel.
Israeli Insurtech Accelerator is a body that leads and promotes the insurtech ecosystem in Israel. The entity is focused on helping insurtech startups and companies who wish to be a part of the industry. Selected startups and companies participate in a 10-week customised programme to introduce their organisation to leading figures in the world of insurance and insurtech.
Meanwhile, Xceedance provides strategic operations support, technology, and data services to drive efficiencies for insurance organizations worldwide. The company helps insurers launch products, implement intelligent technology, deploy advanced analytics, and achieve business process optimisation.
The new alliance positions Xceedance as a potential investor and partner for nascent startups within IIA’s roster of insurtech organizations. IIA-affiliated firms can work with Xceedance as a proven services and solutions provider to the global insurance industry. As well as the funding, insurtech firms can turn to Xceedance for:
- Advice and mentoring from successful entrepreneurs who have built a company from startup to a multi-million-dollar global brand;
- Marketing and sales guidance and access to a global business development network;
- Introductions to an extensive global list of insurers, reinsurers, agents, brokers, and MGAs;
- Insights from industry professionals with deep domain expertise across the lifecycle of insurance operations;
- Access to proven technology and core systems teams to assist with product development, testing, and implementation;
- Access to cloud administration/deployment and managed services support; and
- Finance, human resources (HR), legal, and administrative assistance.
Speaking about the partnership, Insurtech Israel's CEO, Kobi Bendelak explained, “Xceedance has deep connections in the US, EU, and A/NZ insurance markets, enabling access and engagements for the Israeli insurtech ecosystem. Following a successful 2021 for IIA, the alliance with Xceedance helps further expand our connections to U.S. and other regional markets.”
According to reports, the relationship with IIA is the latest in a series of Xceedance engagements in the global insurtech market. The company sponsors the India Insurtech Association, is a corporate member of InsTech London, collaborated on industry research with the Italian Insurtech Association, and has partnerships with multiple insurtech organizations. Additionally, ChainThat, a policy administration and blockchain insurtech, is an Xceedance company.
Arun Balakrishnan, Xceedance's CEO said, “Insurtech is a key contributor to the ongoing modernization of the insurance industry, and we are excited to continue our support of this important movement through an alliance with Israeli Insurtech Accelerator."
He added, "IIA’s work to cultivate innovative organizations demonstrates leadership in the insurtech arena and we are pleased to play a supporting role.”