Choco Insurance Overview
Choco is developing an AI-based assistant designed to help small businesses and freelancers select the most appropriate insurance coverage and prices. Choco enables businesses to verify that their coverage is up to date and that their filings are timely, well organized, and accessible at all times. Choco is designed to help businesses in most industries obtain their business owners, property, professional liability, product liability, directors and officers, cyber, and workers compensation insurance.
Cumulative Funding Raised Over Time ($)
Latest News
growth-positive
חברת הביטוח הדיגיטלי שפועלת "באופן אוטונומי" הגישה בקשה לרישיון פעילות כלכליסט
Digital insurance company Shooko has applied for a market license in Israel to operate in the business property and apartments sector. The company, founded by Liav Gafni and Uriel Aharoni, offers personalized digital insurance based on artificial intelligence. Shooko aims to be the first autonomous insurance company in Israel and is already active in the US self-insurance market. The company is seeking to raise NIS 50 million ($15 million) from institutional and private entities. Shookos concept focuses on significantly reducing operational costs that impact insurance prices for consumers through the use of big data and smart contracts. The companys license application includes permission to operate in the business property and apartments sector.
Public TradingExpand
Growth-Positive
סמנכ"ל הפיתוח העסקי לשעבר של מגדל מצטרף לשוקו ביטוח כשותף כלכליסט
Shoko Insurance, a digital insurance company, has added Eyal Yadin, former Business Development CEO of Migdal, to its team. Shoko, which has already raised 10 million shekels in seed funding, is currently marketing independent insurance in the US through insurance company AmTrast. The company operates in various insurance sectors, including property, life, health, and primarily pension and provident. It is now starting to operate in Israel, primarily targeting the independent market. In October, it was reported that American insurance company AmTrast was in talks to invest millions of shekels in Shoko.
PartnersInvestment
growth-positive
'אם טראסט' במגעים להשקעה בשוקו, שרוצה להיות למונייד הבאה כלכליסט
American insurance company AmTrast is in talks to invest $12.5 million in Israeli digital insurance company Shooko. The investment reflects a valuation of hundreds of millions of shekels for Shooko, which was established 3.5 years ago. In addition to AmTrast, a large Israeli insurance company and a private entity may also join the investment. Shooko, which is already active in the US, plans to operate in various insurance sectors, primarily pension and provident funds. The company aims to replace the current operation of insurance, which is done by human power and involves filling out forms, with digital insurance.
InvestmentExpand
שוקו ביטוח: הקפיצה הדיגיטלית של עולם הביטוח כלכליסט
growth-positive
CHOCO INSURTECH COMPANY LAUNCHING ACTIVITY IN ISRAEL - Insurtech Israel News
Choco, an insurtech company, is launching activity in Israel, focusing on professional liability insurance for independent traders. The company aims to address the segment that is not adequately handled by insurance companies. Choco operates under a fully digital model but will market the product through insurance agents to cater to customers who prefer a human agent. The company has received an insurance agency license and plans to become an insurance company under the same name. Choco has engaged with Harel and Migdal insurance companies for professional liability insurances for independent traders. Choco plans to launch an insurance company in a years time and will work side-by-side with the insurance agency. The company also operates in the USA and plans to expand globally.
CustomersPartners
| Sector | Fintech & Insurtech |
Funding
| Total funding | $12.5M |
| Last funding | $12.5M |
| Stage | Seed |
| Rounds | 1 |
| Investors | 1 |
Team Members
4
Employees: 1-10
Web & Social Links
| Website | www.chocoinsurance.com/ |
Locations
Be'erotayim, Israel
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