Japan’s No.3 property and casualty insurer, Sompo, sets up base in Israel

Sompo is looking to invest in Israeli startups which specialise in cyber security, life sciences and agriculture.

Sompo Holdings Inc, one of Japan’s top three property and casualty insurers, has become the first Japanese insurer to set up a fintech hub in Israel in the hopes of tapping its local expertise in digital and cyber-security technologies.

According to officials from the company it is scouting for opportunities to either invest or enter into a joint venture with Israeli start-ups in areas including life sciences and agriculture.

According to these sources, a new fintech base has been set up in Tel Aviv, earlier this month.

The company already has similar bases in Silicon Valley and Tokyo where it is looking for start-ups which specialize in the fields of artificial intelligence (AI), internet of things (IOT), or computing devices embedded in everyday objects.

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy

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