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BDA to lead a mission to Tel Aviv

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David Hart, CEO of the Bermuda Business Development Agency (File photograph)

A delegation from Bermuda is to attend the Insurtech Israel Global Summit next week in Tel Aviv.

The tech-focused business development mission has been organised by the Bermuda Business Development Agency.

The BDA said it selected Israel as a business development destination due to its strength as a global hub for insurtech, as well as its booming and internationally recognised technology and venture capital sectors.

It added that Israel had more than 7,000 start-ups, which attracted around $95 billion of investment between 2013 and 2023.

Sectors that have traditionally attracted the most investment, the BDA said, include cybersecurity, artificial intelligence, medtech and fintech.

David Hart, CEO of the BDA, said: “We are honoured to participate in the Insurtech Israel Global Summit. Israel is often referred to as the ‘start-up nation’ and the BDA has organised several business development meetings with high-value prospective Bermuda market entrants in Tel Aviv next week.

“Like Bermuda, Israel has gained a reputation for fostering innovation and entrepreneurship and we look forward to reminding key prospects in Tel Aviv about Bermuda’s blue-chip reputation as a financial services centre, particularly in the areas of insurance and technology, and that we are the perfect place to expand operations as they grow their business.”

Mr Hart added: “The BDA is pleased to be organising this business development mission in furtherance of the ‘Attracting Businesses and Promoting Investments into Bermuda’ strategic priority of Bermuda’s economic development strategy.”

Kobi Bendelak, the CEO of Insurtech Israel, said: “We are excited to welcome the BDA to Tel Aviv for the Insurtech Israel Global Summit and we look forward to working together to grow and strengthen the Bermuda-Israel business relationship.”

George Alayon, deputy director, Supervision (Insurance), at the Bermuda Monetary Authority, is to speak on a panel at the conference entitled “Balancing Innovation and Consumer Protection: The Role of Regulators in the Insurtech Industry”.

The event runs from Monday through Thursday.

Kobi Bendelak, CEO of Insurtech Israel (File photograph)
George Alayon, deputy director, Supervision (Insurance), Bermuda Monetary Authority (File photograph)

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Published August 31, 2023 at 4:37 pm (Updated August 31, 2023 at 8:19 pm)

BDA to lead a mission to Tel Aviv

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