Since its establishment over four years ago, Libra has changed the face of the insurance industry in Israel and has led moves such as a revolution in car insurance with a shift to a kilometer-based pricing model, pet insurance with online claims payment, and more.
Libra was established by Ms. Etti Elishkov at the end of 2017, and in May 2018 received an insurer’s license from the Capital Market Insurance and Savings Authority. Since then, it has been operating in elementary insurance and marketing compulsory vehicle insurance and vehicle property insurance, home insurance and business insurance.
Libra is committed to maintaining values of fairness and justice and to changing the rules of the game in the insurance sector. Since its establishment, it has revolutionized many areas, from modifying the pricing model and introducing distance-based insurance, supply of a replacement car at the site of the accident, commitment to the prompt payment of claims, within 48 hours, leading the customer transition revolution in the vehicle insurance and more. Additionally, the company developed an innovative profit-sharing model, which allows it to distribute 25% of its profits to the policyholders. Libra is currently in advanced stages of patent registration and approval in the United States for the digital wallet and the “Libra” currency that it uses to share its profits with the policyholders.
Most of Libra’s activities are direct and digital, thanks to its proprietary innovative core system that analyzes data and integrates “smart” algorithms that support the implementation of its personalized actuary model, all based on advanced AI.