Bambi Dynamic: Dynamic Insurance Platform for Mobility
Bambi’s data driven cloud platform enables insurance companies to offer their customers dynamic car insurance products with a new approach for product offering and customer engagement fitted to the fast-changing mobility and transportation landscape. The Bambi platform offers insurance companies insurance products with combined layers of policies and additional value-added services.
The idea was to create a whole new digital insurance platform built from the bottom up that successfully provides insurers the ability and capacity to offer their consumers insurance products fitted to the challenges of the fast-changing mobility landscape which at the same time enables personalization and consumption insurance like other digital age products based on “Usage” and “Demand”.
The dynamic car insurance products are built on a matrix combining:
- usage (time, distance),
- type of driving (private, ridehailing, carsharing, etc.),
- relevant insurance coverage (liability, comprehensive, collision, product liability, etc.) and personalization (static and dynamic data, behavior, etc.).
The platform connects to relevant data sources of the users, cars, mobility platforms and/or ecosystems (i.e. Smartphones, API’s, sensors, ADAS, external sources, telematics or directly with connected cars). Data is used to enable the measurement of the usage, events, behavior to enable the creation of complex insurance products for modern car services and to enhance insurance processes of underwriting, claims handling and operations using machine learning and AI.
The platform’s usage of connectivity with data sources is flexible and can be replaced and adapted quickly per need; changing economies factors can instantly be adapted to existing or new products; adjustments, changes and add-ons are made easy; usage of advanced databases, enables us, without any coding, to deploy insurance rules within products in hours or days instead of weeks and months. The platform is built on a wide cloud infrastructure to enable sustainable and dynamic insurance solutions, scalable technology and modular micro services.
In Q3/Q4-2019 the Tel Aviv-based startup aims to launch a UBI car insurance product for private cars with one of the biggest Insurance companies in Israel. In addition, they are engaging several global insurance companies related to the development of additional private car UBI products and ridehailing UBI solutions.
Bambi’s solution is built on the concept of dismantling the car insurance model to its smallest elements and re-assembling it dynamically to various car insurance products according to the specific needs of user, usage, type of driving, relevant insurance coverages and personalization. Such micro structuring enables Bambi flexibility in its offering and a wide range of dynamic insurance products from the simplest “pay as you go” personal car insurance to the complex usage integrated with car-sharing, ridehailing, e-scooters and other advanced various car services.
How it works
Why we selected Bambi Dynamic for DIA Amsterdam
Bambi Dynamic is a solution for the visionary insurance companies looking on the future and understanding that the dynamic change of the mobility landscape requires a different approach in product offering, customer engagement via data utilization.
At DIA Amsterdam they will present their platform capabilities enabling insurance companies to provide different approach for product offering and customer engagement when insuring mobility business lines such as private cars, ridehailing, car sharing and other new mobility models.
Who is Bambi Dynamic?
Bambi Dynamic is a Tel-Aviv based start-up company with 13 employees and was established in mid-2017. Founders are Mr. Zion Madmon and Mr. Moshe Pinto.
Moshe, the CEO of Bambi has more than 20 years’ of experience in domestic and international business management, business development, operations, finance and legal. Moshe is a CPA and served as CFO, COO and various Executive positions during the years mainly in Financial, Commercial and Media companies conducting business globally.
Zion, the Chairman and the CTO of Bambi is a serial entrepreneur with more than 20 years’ of experience in information and real time technologies. Zion founded the first dating website in Israel “Cupid” and sold it to “Jdate” later. He then founded “Travelist” the leading tourism price compression website in Israel where he still serves as a board member.
Currently Bambi provides its solution to the local Israeli Insurers. One of the biggest insurance company in Israel holds close to 10%.