Japanese life insurer, Dai-ichi Life Holdings has become Axell’s latest innovation hub member as the two organizations broker a deal to connect Japan with Tel Aviv’s thriving innovation community.
Dai-ichi Life Holdings is one of the largest insurers in Asia with an estimated 343 billion yen of capital stocks, over 30 million policies inforce globally and employing +50,000 financial agents.
The company is working on its “Connect 2020” strategic direction, which aims to build strong relationships with customers, communities, and diverse business partners. Key to Dai-ichi’s mid-term strategy is to leverage its global network as a competitive advantage. The deal with Axell supports this vision by connecting Japan to Israel’s thriving FinTech and InsurTech ecosystem to bring new capabilities to the Group.
Headquartered in Tel Aviv, Israel, Axell is an innovation builder for insurance and finance and accelerates the digital transformation of financial services incumbents by co-creating new digital products and services.
Dai-ichi Holdings Director, Vice Chairman, Hideo Teramoto said he believes Axell has the capability to support the innovation strategy for the insurer.
“I think Axell, led by Moshe Tamir, has a very strong ability to act as a bridge between Dai-ichi and the Israeli innovation and insurance market. I’m really looking forward to doing business with Axell.” “We are very pleased to have the opportunity to access the Israeli market where many advanced technologies are being developed day-by-day.” “The world is facing a very difficult situation with COVID-19 but I’m confident the cooperation of both companies will produce great results. I have a lot of expectations looking forward to the future
Present at the virtual signing ceremony was Axell’s Founder and CEO, Moshe Tamir former Global Head of Digital Transformation at Generali, one of the world’s largest insurance companies and former Deputy CEO and CMO of Migdal Insurance. .
Mr Tamir said the partnership extends Axell’s reach into a new market.
“This strategic partnership represents a significant milestone for Axell as we build our global network of Insurers accessing the technology network and innovation methodologies of our Israeli homeland.”
Today, Axell works with numerous global insurance clients, including; Generali, TAL Australia, Discovery south Africa, Maccabi health services, and Ayalon from Israel with distribution networks across Europe, North America, Asia, and the Middle East.
“A key strategic advantage of Axell’s value proposition is our deep understanding of global financial services markets, which are universally being impacted by COVID-19,” said Mr Tamir. “However; we believe the challenges presented by the pandemic are actually an opportunity for corporations to transform into the digital future.”
“Dai-ichi have shown outstanding commitment to innovation and continuous growth in this partnership and we very much look forward to a successful future together,”
