Photo - RemitRix
play_arrow
View
50957

RemitRix

Optimized Capital & Risk Management for Insurance Companies

Israel
Market: Insurance
Stage of the project: Operating business

Date of last change: 26.01.2021
Show contacts
0
equalizer from 2000
help
Calculated and estimated occupancy of the project (more about ratings)
My rating
1
2
3
4
5
6
7
8
9
10
Average rating:
 

Idea

RemitRix helps Actuaries, CFOs and Risk Managers at insurance companies to manage and predict capital through compliant, accurate and cost saving methods

Current Status

2 clients (insurance companies)
+ 2 pilots

Market

TAM: insurance software market $12 B a year with 7% CGAR
SAM: ~30% of IFRS17 budget dedicated for IT solutions = $7 B a year
SOM: ~30% accounts for small/medium insurance companies = $2 B a year

Problem or Opportunity

1. Complex regulation (time consuming & expensive)
2. Separated IT infrastructure (Inaccuracy of reporting)
3. Lack of holistic management Process (“Fire Fighting” Culture)

Solution (product or service)

1. Agile & Affordable (Simple to integrate)
2. Automated & Accurate (ML advanced models)
3. Holistic (Assets & Liabilities)

Competitors

Tech providers: SAP, SAS
Analytical tools: Prophet, WTW

Advantages or differentiators

ML accuracy for reserves estimation
Automation and agility
Holistic (assets and liabilities)

Finance

Average $10K-$100K monthly depends on AUM and products mix

Business model

SaaS subscription fees
Partners (tech integrators), consultants (actuaries), accountants (big 4)

Money will be spent on

R&D and marketing

Offer for investor

15%-20%

Risks

Long selling cycle

Incubation/Acceleration programs accomplishment

PNP California
NewChip (ongoing)

Product Video

5,00
1
2
3
4
5
1 voice
Sign in/Sign up
arrow_back
EN
more_horiz
close
visibility88
star0
Add to favorites
Delete from favorites
share
close
thumb_up1
Like
Unlike
Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video