Bambi Dynamic raises $6 million
Tel Aviv-based Bambi Dynamic has announced the launch of its new platform dedicated to mobility insurance products. Recently, the startup secured $6 million in funding from MS&AD Insurance Group and The Phoenix Insurance Company, one of the largest insurance companies in Israel.
Founded in 2017 by Moshe Pinto and Zion Madmon, Bambi Dynamic allows insurers and mobility service providers to offer their customers digital insurance products covering existing and future mobility models. The white-label platform offers the flexibility to connect with multiple data providers and connectivity devices and features an end-to-end solution including onboarding, underwriting, pricing, user identification, policy operations, and first notice of loss.
The startup’s first product – The Phoenix Drive – was developed for The Phoenix Insurance Company to give the insurer the capability to offer a pay-as-you-go insurance product.
“The digital revolution is sweeping industries across the board, and the insurance industry is no exception. We are honored to have secured funding from MS&AD Ventures and The Phoenix and to have partnered with The Phoenix to help catalyze the growing shift from legacy auto insurance to the next generation of customer-centric products for insurance and mobility companies.” – Moshe Pinto, CEO and cofounder of Bambi Dynamic.
“Bambi’s technology enables us to offer our customers game-changing personal and commercial auto insurance products, and provides us with a competitive advantage for meeting the complex technological and logistical needs insurers must adopt to address the ever-evolving mobility ecosystem.” – Ron Shvili, Executive VP, Chief Technology, Information systems and Innovation Officer at The Phoenix Insurance Company.
Bottom Line: competing with Trov.