Harel Insurance Investments and Financial Services Ltd. (Group)

With the intention of providing the best possible service and technology capabilities for the Group’s customers and agents, in 2022 Harel Group rolled out a business-technology plan together with Amazon Web Services (AWS) Israel (Amazon’s cloud computing services subsidiary) and the IDF’s 8200 alumni association. This plan involves and will involve Israeli startups that develop technology solutions for the worlds of insurance, finance, health and improving the streamlining of operations in the corporate world. Among other things, these startups will benefit from access to experts in the different areas relevant to their operations, including with respect to technology and data security, access to infrastructures, advanced technology tools and products as well as an office work environment in a designated space established by the Group in M.E.H. House in Ramat Gan. Additionally, as part of the plan, the Group will review the assimilation of technology solutions put forward by the startups participating in the plan.

In 2017 Harel established a small department that invests small amounts directly in early stage technology startups. Those investments reached a total of $100m and now the department has been allocated an additional $100m to invest.

Harel Group has more than 80 years of insurance experience. The Group's operations began when Ernst and Margot Hamburger, who immigrated to Israel from Germany, founded Hamishmar Insurance Agency in 1935. In 1975, the family established Harel Insurance Company Ltd. and some seven years later both Harel Insurance and Hamishmar Insurance Agency became subsidiaries of Harel Hamishmar Investments Ltd. which was first floated on the Tel Aviv Stock Exchange in 1982. In 2007, the Company's name was changed to Harel Insurance Investments & Financial Services Ltd. and it is currently listed on the Tel Aviv Stock Exchange.