PriyaPatel
TLDR:
Key points:
- JVP launched an initiative to boost AI in Insurtech and Climatetech at the 2024 Annual Meeting in New York.
- The event brought together investors, insurance companies, and startups to address the pressing challenges of climate change.
Full Article:
JVP (Jerusalem Venture Partners), led by Erel Margalit, recently announced the launch of an international initiative to enhance AI technologies in Insurtech and Climatetech at the JVP 2024 Annual Meeting in New York. The event attracted hundreds of investors from around the world, including North America, South America, Europe, Asia, and Israel. Noteworthy attendees included sovereign funds, insurance companies, banks, family offices, institutions, and governmental funds.
JVP’s partners, Yoav Tzruya, Gadi Porat, and Shimrit Kenig, conducted sessions with JVP’s portfolio companies, showcasing their expansion and partnerships in sectors such as cybersecurity, Fintech, Insurtech, and AI. These partnerships have led to the growth of companies like Earnix, Nanit, and ControlUp, among others.
Erel Margalit, the Founder and Chairman of JVP, emphasized the role of Israeli high-tech in global connections and collaborations, particularly during challenging times. Since its establishment in 1993, JVP has been a leader in investments in cybersecurity, AI, Fintech, and Insurtech, creating successful companies like CyberArk and QLIK tech.
The Annual Meeting took place at the International Cyber and Climatetech Center – Margalit Startup City NYC, where discussions revolved around the integration of AI in the insurance sector to address climate change challenges. Insurance companies like Munich Re, Howden Tiger, and Shin Kong Life participated alongside Israeli startups developing innovative AI technologies for natural disaster management and climate-related risks.
Dr. Marcus Winter from Munich Re highlighted the importance of leveraging AI for mitigating natural disaster risks, while Cecilia Kushner from NYCEDC underscored AI’s role in the city’s Green Economy Action Plan. Robin Gilthorpe, CEO of Earnix, also emphasized the need for AI technologies in adapting to changing risk profiles in insurance and banking industries.
The event showcased the potential of Israeli high-tech firms in revolutionizing the insurance sector to address climate change complexities through advanced AI solutions. With collaborations and partnerships in place, the global insurance industry aims to equip itself with the tools and insights necessary to tackle climate-related challenges effectively.
