MONETA Capital invests in Aktibo
Empowering life-insurance personalization with deep-learning technology
Tel Aviv, Israel, June 15th, 2019 /– News release by Moneta Capital.
Moneta Capital announced today the closing of its investment in Aktibo, an Insuretech startup, that has developed deep-learning technology that takes the personalization of life-insurance products to an unprecedented level.
Aktibo (www.aktibo.io) was founded 2 years ago to develop a revolutionary customer intelligence platform for life insurance. By applying deep learning capabilities, Aktibo classifies and clusters potential customers on “persona”-based groups, to deliver a customer-centric and personalized experience across all stages of the insurance lifecycle. The company has tested its technology in the US market during 2018 and has reached a strategic partnership with major carriers who are starting to implement its technology.
The Aktibo founding team has world-class credentials in the fields of personalization and deep learning. Prior to founding Aktibo, Yoav, Assaf, and Itai founded Kontera, a leading Sequoia-backed company that was acquired by Singtel in 2014, and leveraged NLP and ML algorithms to transform consumer experiences. Today, the team focuses on delivering customer-centric experience across the entire value-chain of life insurance.
About the Market: The need for Aktibo’s solution arises as this huge market that according to Munich Re is expected to grow to $2.8T by 2030, is still characterized by a very high Customer Acquisition Cost (CAC) ranging between $500-$800, and especially hard to convert customers. A recent PWC research has indicated that insurance firms must target customers at very specific market segments to attract enough customers and gain an acceptable margin. The ‘serve all’ model that offers a set of “fix” life premiums and coverages are not relevant anymore.
As part of the investment, Adoram Gaash from Moneta was nominated a member of the Board of Directors.
About Moneta VC
MonetaVenture Capital is managing 2 parallel funds: an early-stage fund – Moneta Seeds, and a revenue stage fund – Moneta Capital. Moneta focuses on AI, Fintech, and Insuretech and its portfolio companies are integrated into the world’s largest Banks, Financial institutions and Insurance firms. Moneta’smain added value consists of its Strategic Partnerships with world-leading Banks and Insurance firms who are co-investing with Moneta and support its portfolio as design partners and clients.
Contact: Adoram Gaash, adoram@monetavc.com
7 Massada Street, BneiBerak, BSR-4 tower, Fl#28. Israel
Tel: 03-5544613, 03-5544715 www.monetavc.com
SOURCE–Moneta
