Earnix News
24 articles
growth-positive
The Jerusalem-based venture fund will use the capital primarily to buy out early investors, increasing its ownership to over 50% as Earnix prepares for AI-driven expansion across global insurance markets.
Earnix, an insurtech company, is set for AI-driven expansion in global insurance markets following a $290 million investment led by JVP and TPG. The funds will primarily be used to buy out early investors, increasing JVPs ownership to over 50%. Insight Partners will also acquire holdings from existing investors. The investment will support Earnixs strategic initiatives, including acquisitions and technological development in AI. The company, under CEO Robin Gilthorpe, is preparing for a transformation, including workforce adjustments. Earnix operates in over 35 countries, collaborating with over 100 leading insurers and financial services companies. The investment reflects confidence in Earnixs potential as a leading AI platform in the insurance and financial services industries.
InvestmentAcquisitionManagement ChangesCustomersPartners
growth-positive
/PRNewswire/ -- JVP, a leading global venture capital firm, announced today the close of a $290 million single-asset Continuation Vehicle in partnership with...
Earnix, a leader in Dynamic AI for the insurance industry, has secured a $290 million investment through a single-asset Continuation Vehicle led by JVP in partnership with TPG GP Solutions. This investment aims to support Earnixs global expansion and solidify its position as a dominant force in AI SaaS for insurance and financial services. The transaction delivered an 8.7x return to early investors, highlighting JVPs successful track record. Earnixs platform, adopted by over 100 tier-1 insurance companies, offers real-time decisioning in pricing, underwriting, and product personalization. The partnership with TPG and other investors will accelerate the adoption of AI-driven decisioning in the insurance and banking sectors.
InvestmentPartners
growth-positive
Earnix Acquires Zelros
Earnix, an AI platform for insurance based in Tel Aviv, is acquiring Zelros, a Paris-based company specializing in Generative AI for insurers and banks. The acquisition aims to combine Earnixs predictive AI capabilities with Zelross GenAI recommendations engine to enhance decision-making and customer engagement for insurers and banks. The joint offering will benefit major clients like Aviva, AXA, and Santander by providing precise, scalable solutions in regulated environments. The acquisition is expected to result in higher conversion rates and better customer satisfaction. Earnix is backed by investors JVP and Insight Partners.
AcquisitionPartnersCustomers
growth-positive
מניות ארניקס ב-120 מיליון דולר מחליפות ידיים: וינטג' ו-IGP מוכרות את ההחזקות לאינסייט ו-JVP | כלכליסט
Israeli fintech unicorn Earnix has seen a major stock sale recently. Israeli venture capital funds Vintage and IGP sold all their holdings to significant shareholders in the company, Israeli venture capital fund JVP, led by Erel Margalit, and American venture capital fund Insight. The deal is estimated to be worth around $120-130 million. IGP sold shares for about $70 million, marking a significant exit that represents a sevenfold return on its initial investment. Vintage sold shares for about $50-60 million. The exact valuation at which the transaction was carried out is unknown, but it was not higher than the valuation at the last round conducted in 2021, when the company raised $75 million at a valuation of $1 billion.
InvestmentAcquisition
growth-positive
Insight Partners and JVP acquire $120M worth of Earnix shares | CTech
Israeli fintech unicorn Earnix recently saw a large secondary share deal, with two Israeli venture capital funds, Vintage Investment Partners and Israel Growth Partners (IGP), selling their entire holdings to two significant shareholders in the company: the Israeli venture capital fund JVP and the American venture capital fund Insight Partners, as well as to the company itself. The deal is estimated to be valued at about $120-$130 million. Earnix, which provides an AI Dynamic Platform serving the largest insurance companies in the world, has seen significant growth, with its revenues crossing the $100 million threshold for the first time this year.
InvestmentCustomers
Growth-Negative
Fintech unicorn Earnix lays off 10% of team | CTech
Israeli fintech firm Earnix is laying off around 30 employees, which is about 10% of its workforce. The company, which provides cloud-based intelligent solutions for pricing, rating, underwriting, and product personalization, reached unicorn status in February 2021 after raising $75 million at a pre-money valuation of $1 billion. The funding round was led by Insight Partners, with participation from existing investors JVP, Vintage Partners, and Israel Growth Partners. Despite expanding its team after the funding, the company has decided to cut back due to macroeconomic trends affecting the U.S. insurance market.
LayoffsManagement Changes
Earnix Welcomes New CEO to Lead Next Stage of Global Expansion
growth-positive
Office Tour: Earnix Offices - Tel Aviv
Earnix, a company based in Tel Aviv, has recently completed the design of its offices. The design emphasizes transparency and openness, with a focus on natural light and creating a pleasant work environment. The office plan includes various work areas, collaboration spaces, and conference rooms. The design allows for future growth and flexibility. The project was completed by Shirli Zamir Design Studio.
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Earnix Welcomes Industry Veteran Craig Conway to its Board of Directors
growth-positive
"The insurance companies are panicking.They need us."
Insurance technology start-up Earnix, led by CEO Udi Ziv, has raised $75 million in a funding round, turning the company into a unicorn valued at over $1 billion. The round was led by US-based Insight Partners, with participation from existing investors including Erel Margalits JVP. Earnixs technology helps insurance companies and banks to customize policies and loans, price products, and contact customers based on their profiles. The company has grown from under 100 employees four years ago to 250 today, with plans to reach 350 by the end of the year.
InvestmentExpand
growth-positive
"חברות הביטוח בפאניקה, הן באטרף להשתנות, ואנחנו המפתח שלהן"
The article discusses the journey of Udi Ziv, CEO of Israeli insurance start-up Earnix. The company, which was founded in 2001, recently raised $75 million, pushing its valuation to over $1 billion. Earnixs technology helps insurance companies and banks offer personalized policies and loans, price products, and approach customers based on their characteristics. The company has expanded its workforce from less than 100 to 250 in the past four years, with plans to increase to 350 by the end of the year.
InvestmentExpand
Earnix's Solution Enhanced Through New Collaborative Capabilities
growth-positive
Earnix becomes Israeli tech's newest unicorn with $75 million funding
Israeli fintech company Earnix has raised $75 million in a funding round at a pre-money valuation of $1 billion. The funding will support Earnixs global expansion, investment in product innovation, hiring, and M&A activities. This is expected to be Earnixs final investment round before going public on Nasdaq. Earnix provides AI-driven rating, pricing, and product personalization solutions for insurance and banking. The company has been recognized as a market leader in predictive analytics for P&C insurers and has been named one of the top insurtechs to watch in 2021. Earnix currently employs 200 people and has headquarters in Tel Aviv.
InvestmentPublic TradingExpand
growth-negative
11 InsurTechs to watch in 2021 PropertyCasualty360
The article discusses the risk of digital identity fraud in personal lines claims and highlights that most carriers lack robust capabilities to distinguish between genuine customers and fraudsters. It emphasizes that leaders in the industry are investing in multi-layered approaches to mitigate digital identity fraud and are experiencing positive results. The article is sponsored by LexisNexis Risk Solutions.
Customers
growth-positive
https://www.globalbankingandfinance.com/category/news/hollard-partners-with-earnix-to-lead-their-digital-transformation-through-pricing-excellence-project/
Earnix has been chosen by South African insurer, Hollard, to replace multiple legacy rating systems with Earnixs single enterprise solution. The Earnix Rating Engine platform will provide improved pricing controls, real-time model deployment agility, and advanced scenario planning features for Hollard. The implementation process will be swift using Earnixs cloud-based incremental integration system. The shift to the Earnix platform will enhance Hollards efficiency in rating and pricing operations, allowing multiple users to work simultaneously while ensuring control and governance. Earnix offers advanced analytical rating, pricing, and product personalization solutions for insurers and banks.
Partners
growth-positive
Earnix : Launches its Usage and Behavior-Based Insurance Offering
Earnix has launched its Usage-Based Insurance (UBI) and Behavior-Based Insurance (BBI) offering, allowing insurers to enhance the customer experience by delivering personalized offers in real-time. The COVID-19 pandemic has accelerated the demand for personalization in insurance, and Earnixs solution enables insurers to operationalize data and leverage it to identify and respond to changing customer needs. The offering combines artificial intelligence, machine learning, and traditional analytics to create highly personalized offers and automate the deployment of UBI and BBI products. Earnixs solution can be integrated into an insurers existing tech infrastructure, providing rapid time-to-value. The company aims to empower insurers to compete in fast-changing markets and meet the increasing demand for personalized insurance products.
Customers
growth-positive
Earnix Enhances the Machine Learning, Automation and Personalization Capabilities of its Solution with New Robust Features - Benzinga
Earnix, a provider of advanced rating, pricing, and product personalization solutions for insurers and banks, has announced significant enhancements to its analytical, automation, and personalization capabilities. The upgrades allow insurers and banks to deploy machine learning models and pricing techniques in a personalized manner, enabling faster price and rate execution aligned with consumer preferences. The improvements also provide better consumer-centric product offerings and facilitate collaboration between data scientists and business users. Earnixs solution now offers increased adaptability, giving consumers a more robust selection of personalized products and bundles. The enhancements contribute to the companys growth-positive impact.
CustomersPartners
growth-positive
Earnix Recognized as Market Leader in Predictive Analytics for P&C Insurers
Earnix, a provider of advanced rating, pricing, and product personalization solutions for insurers and banks, has been recognized as a market leader for its predictive analytics in the P&C insurance industry. The recognition came from CB Insights, a technology sector analysis and research company, which evaluated Earnix along with 11 other companies. Earnixs predictive analytics were found to outperform competitors in both commercial and market adoption, and capabilities and vision categories.
Customers
Earnix and DataRobot Announce a Strategic Alliance to Accelerate Adoption of Machine Learning and AI in the Financial Services Industry
Earnix Introduces Integrated Machine Learning™ Technology
growth-positive
Israeli fintech co Earnix raises $13.5m
Israeli fintech startup Earnix has raised $13.5 million in a financing round from previous investors Jerusalem Venture Partners (JVP) and Vintage Investment Partners, as well as new investor Israel Growth Partners (IGP). This brings the total amount raised by the company to $25 million. Earnix develops advanced predictive analytics solutions for pricing banking and insurance products. Alongside the financing round, the company also announced the appointment of Reuven Ben Menachem as chairman. Earnix aims to maximize the success of its business model and reinforce its reputation as a provider of advanced analytical software for financial enterprises.
Investment
growth-positive
Earnix Listed as a Sample Vendor in Eight Gartner's Hype Cycles
Earnix has been listed by Gartner Inc. as a Sample Vendor in eight hype cycles research reports. Gartner recognizes Earnix in the area of Advanced Analytics Solutions, which reinforces the companys continued momentum in the advanced analytical space. The Gartner Hype Cycles provide a graphic representation of the growth and adoption of technologies and applications. Earnixs integrated customer analytics software empowers financial services companies to achieve optimal business performance through data science and predictive analytics.
Partners
growth-positive
Earnix Strengthens its Management Team
Earnix has announced the addition of Raffi Kesten, Managing Partner at JVP, to its Board of Directors. Kesten brings a breadth of experience and a long track record in growing businesses on a global scale. Earnix sees this appointment as valuable for its continued worldwide growth. Other board members include Haim Kopans, Partner at JVP, and Amit Frenkel, General Partner at Vintage investment partners.
Management Changes
growth-positive
Earnix Expands Into Asia-Pacific Region
Earnix has expanded into the Asia-Pacific Region and selected A&Gs Mr. Samir Jayaswal as its Head of India and Sri Lanka. The expansion is seen as a growth-positive move for the company, as it aims to leverage the growing consumer market in the region. Earnixs products are expected to be valuable for Indian banks and insurance companies in sharpening their offerings for the end consumer. The company is focused on banks and insurers and sees the expansion to India as a great opportunity in a new market. The article does not mention any specific partners, customers, valuation amount, acquisition amount, investment amount, layoffs, or the date of the event.
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