Click, click, cancel

Meet Bitul Polisa, the latest insurtech to join the Israeli scene. The startup looks to serve policyholders by offering a fully digital workflow to handle policy cancellations. Yes, cancellations, hence the name “Bitul Polisa”, which literally means ‘cancel policy’ in Hebrew. In essence, customers can access either the company’s web portal or a soon-to-be-launched mobile app, enter some basic personal details along with their policy number and submit their request for cancellation. The service is completely free but rest assured every customer is a potential lead and the startup reserves the right to share the data with third parties. According to cofounder Henry Benshabat, the startup has already processed 670 cancellation requests since its inception on October 30th 2016. Bottom Line: very fitting for the Israeli market, which is a tad bit bureaucratic. Oh and it is eyeing the US market. Mazel Tov.