Major Shifts in Mobility, Connectivity and Embedded Insurance (w/Tomer Kashi, CEO Voom)

Tomer Kashi, CEO & Co-Founder at Voom Insurance, on-demand insurance for anything you can ride or fly. Voom is an MGA that focuses on use-based products around the future of mobility, using new sources of data to provide a better insurance experience for markets typically underserved by the incumbent providers. 

One advantage Tomer sees for insurtechs is that In personal lines, most of the pricing models are publicly available. What he calls "Insurtech 2.0" is the ability to focus not only on user experience but the underlying risk models themselves. 

Tomer sees three major shifts in the future of mobility space that provide tailwinds for  new models of insurance:

• New platforms such as drones

• Increased connectivity, new risk assessment and embedded insurance 

• Rise of subscription models, decreasing ownership 

Tomer addresses the ability of customers to "exploit" or somehow mis-use these new pricing models. In his experience with on-demand, use-based coverages the customers play fair overall and do fit the model.

Coming to the US from another country offers the opportunity for a deep, broad market. Tomer describes the "necessity" of targeting the US market in order to scale.

Voom's latest fundraise was $15M, he describes how product growth drove the capital raise, and how the VC feedback and process helped the company focus even more on its niche markets using proven growth metrics. VC connections and introductions become critical in the niche spaces such as mobility, drones.

In terms of the mid-term future of mobility Tomer assumes the future holds connectivity, and increasingly better safety; however the shift to fully-autonomous vehicles may change important pieces of the insurance model.

Prior to founding Voom, Tomer spearheaded interdisciplinary technology projects from within the Prime Minister’s Office in Israel. Tomer is a "Talpiot" graduate and has a  BSc in computer science and physics from The Hebrew University of Jerusalem and an MBA from Tel Aviv University. Tomer is based in Tel Aviv and is a proud father of two little daughters.

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