Axell, an innovation tech hub for insurance and finance companies, announced its official launch in Tel Aviv on Monday.
The hub will be led by founder Moshe Tamir, former global head of digital transformation at insurance company Assicurazioni Generali S.p.A and former deputy CEO of Israeli insurance company Migdal Insurance and Financial Holdings Ltd.
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Based in Tel Aviv, Axell aims to accelerate “the digital transformation of financial services incumbents” through the co-creation of new digital products and services, the company said in a statement.
Axell will connect insurance giants and financial services corporations with the tech ecosystem in Israel. More specifically, the company will work with companies like Generali, AIG, and Israeli health maintenance organization Maccabi Healthcare Services, and connect them with local startups, Tamir told CTech by Calcalist.
The company said in a statement that it chose to be headquartered in Tel Aviv because the city is “one of the most thriving tech-development industries in the world” that can give “quick access to the best opportunities in the fintech and insurtech space.”