2Team

insurtech

FOUNDING YEAR: 2010
LOCATION: Israel
Last Update: 01/05/2020

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About

Meet 2TeaM - Established in 2010, 2TeaM’s unique software solutions have made it a major force in the software insurance and financial service industries in Israel. Our two major SaaS solutions, G-Life and Life On-Line, enable insurance agents and carriers, as well as financial advisors, brokerage firms and banks, to dramatically increase sales, while reducing the length of each sales cycle and operation costs. The company’s founders have decades of experience in the insurance, financial and hi-tech industries, and proven results in providing sales support systems for leading financial companies.

MEDICI Analysis

2Team provides a computer driven software tool that supports the insurance agent to sell an insurance with in short span of time.

Focus

PRODUCTS & SERVICES

Life On-line – Life On-line is composed of smart computing, simulating and comparing engines running the show in the background for all investment product types. It is a highly flexible solution that can be implemented in any environment, including Internet-based, Cloud-based or off-line. Life On-line can be easily integrated with an insurance carrier’s legacy systems (e.g., as part of their CRM system or for mobile applications) and with G-Life. The platform’s design enables new financial product engines to be easily added – and current ones to be quickly updated. G-Life – An all-in-one software platform on the agent’s laptop, G-Life is designed to provide a holistic platform that allows customers to manage, review and buy insurance policies in a clear manner. This also allows an insurance company or financial advisory firm to sell insurance products directly to customers. G-Life also encourages fair dealing and reduces asymmetry of information between customers and product providers. Its intuitive Wizard helps agents walk their customers through the one-on-one sales conversation, with simple explanations that make the most complex policies easy to understand. Plus, its holistic view of the client’s financial needs, goals, and existing financial situation enables the agent to quickly find the exact solution for each person’s needs – selling more, in less time, and encouraging fair dealing. The end result is a great user experience, with lightning-quick response time, making client meetings incredibly fast and efficient and significantly improving the process - from quotation completion to policy issuing. G-Life includes machine learning algorithms to provide features such as "like me" which offers to an individual a proposed retirement plan , with people having similar profiles (similar age range, income range, family status – including same range of number of children) have purchased in the last 1 or 2 years. In addition, G-Life provides the opportunity to the individual and the advisor, as a holistic tool, to manage a dialogue regarding other current needs of the individual such as health, disability and protection plans.

REVENUE MODEL

SAAS

PRIMARY PROBLEM SOLVED

The increasing complexity and scope of insurance products make it difficult for individuals to track what they have bought and assess the suitability of new products. Develop an end-to-end insurance platform that would allow the customer to manage, track, review, and buy insurance policies in a simple and informed manner. The platform should allow the insurer or intermediaries to sell their solutions directly to the customer.

INTELLECTUAL PROPERTY

Patent(s) FILED

company provided insights

Traction

REVENUE

$1.0M - $4.99M

REVENUE COMMENT:

many of the paying customers do not pay directly. the insurance companies which chose to implement our solution pay to 2TeaM and gives our product to their agents and advisors.

NUMBER OF TRANSACTIONS:

10 K

TRANSACTIONS VALUE:

10 K

ACTIVE USERS:

2000

ACTIVE USERS COMMENT:

“With G-Life, each of our agents conducts 10 more client meetings every week” “In the past year, we’ve increased sales by 40%” Israel’s 2nd largest insurance agency

People

NUMBER OF EMPLOYEES

1-10

COMMENT:

We will be very excited to be part of Medici an appreciate if you engage us to banks/insurance companies/ brokerage firms

Momentum

FUNDED

NO

LISTED

NO

For Investors

FUNDING NEEDED:

$10 M

USES OF FUNDS RAISED:

1. Go to market

2. enhancement and adaptation to the global market

3. regulation of the relevant territory

EXIT STRATEGY

TBD

MONTHS LEFT WITH CURRENT CASH BURN RATE:

20 months from 28 Aug, 2016

COMPETITORS:

prestwood software

ipipeline

focus 360

BASICS

FOUNDING YEAR:

2010

LOCATION:

Israel

Views:

120 VISITORS | 307 VIEWS
TOTAL EMPLOYEES
1-10

About

Meet 2TeaM - Established in 2010, 2TeaM’s unique software solutions have made it a major force in the software insurance and financial service industries in Israel. Our two major SaaS solutions, G-Life and Life On-Line, enable insurance agents and carriers, as well as financial advisors, brokerage firms and banks, to dramatically increase sales, while reducing the length of each sales cycle and operation costs. The company’s founders have decades of experience in the insurance, financial and hi-tech industries, and proven results in providing sales support systems for leading financial companies.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

MEDICI Analysis

2Team provides a computer driven software tool that supports the insurance agent to sell an insurance with in short span of time.

Focus+
Momentum+
Traction+
People+
For Investors+
Other+

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2Team

About

Meet 2TeaM - Established in 2010, 2TeaM’s unique software solutions have made it a major force in the software insurance and financial service industries in Israel. Our two major SaaS solutions, G-Life and Life On-Line, enable insurance agents and carriers, as well as financial advisors, brokerage firms and banks, to dramatically increase sales, while reducing the length of each sales cycle and operation costs. The company’s founders have decades of experience in the insurance, financial and hi-tech industries, and proven results in providing sales support systems for leading financial companies.

Focus

PRODUCTS & SERVICES

Life On-line – Life On-line is composed of smart computing, simulating and comparing engines running the show in the background for all investment product types. It is a highly flexible solution that can be implemented in any environment, including Internet-based, Cloud-based or off-line. Life On-line can be easily integrated with an insurance carrier’s legacy systems (e.g., as part of their CRM system or for mobile applications) and with G-Life. The platform’s design enables new financial product engines to be easily added – and current ones to be quickly updated. G-Life – An all-in-one software platform on the agent’s laptop, G-Life is designed to provide a holistic platform that allows customers to manage, review and buy insurance policies in a clear manner. This also allows an insurance company or financial advisory firm to sell insurance products directly to customers. G-Life also encourages fair dealing and reduces asymmetry of information between customers and product providers. Its intuitive Wizard helps agents walk their customers through the one-on-one sales conversation, with simple explanations that make the most complex policies easy to understand. Plus, its holistic view of the client’s financial needs, goals, and existing financial situation enables the agent to quickly find the exact solution for each person’s needs – selling more, in less time, and encouraging fair dealing. The end result is a great user experience, with lightning-quick response time, making client meetings incredibly fast and efficient and significantly improving the process - from quotation completion to policy issuing. G-Life includes machine learning algorithms to provide features such as "like me" which offers to an individual a proposed retirement plan , with people having similar profiles (similar age range, income range, family status – including same range of number of children) have purchased in the last 1 or 2 years. In addition, G-Life provides the opportunity to the individual and the advisor, as a holistic tool, to manage a dialogue regarding other current needs of the individual such as health, disability and protection plans.

REVENUE MODEL

SAAS

TOP PROBLEM SOLVED

The increasing complexity and scope of insurance products make it difficult for individuals to track what they have bought and assess the suitability of new products. Develop an end-to-end insurance platform that would allow the customer to manage, track, review, and buy insurance policies in a simple and informed manner. The platform should allow the insurer or intermediaries to sell their solutions directly to the customer.

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

Using one intuitive and dynamic sales platform, 2TeaM’s software solutions expertly and quickly guide insurance agents through the sales process, so they make more sales conversions in less time. It’s that simple. Our solutions: • Save agents and customers vast amounts of time • Increase cross-sell and up-sell capabilities • Ensure that regulation standards are met • Reduce operational costs • Provide an holistic view of the customer’s financial needs • Support wide range of products: life insurance, annuity, pension, protection products and more

KEY DIFFERENTIATORS

One platform for all financial products enabling an advisor or an agent to simulate, compare, guide to decision while increasing sales and reduce operational cost. 2TeaM has designed a unique architecture for generating computing engines designed for financial products. The platform is using data driven technology which enables supporting a large variety of financial products (LTSI) from different carriers. Each group of products is being compute by an engine which has a sophisticated rule based matrix. When G-Life's engines receive input data, they determine, quick and accurate, which set of rules to activate and which set of tables to use. This flexibility code enables adding easily any type of financial product to the system and easily maintaining and updating existing ones.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

STRATEGIC CLIENTS AND PARTNERSHIP

KPMG : partner

People

NUMBER OF EMPLOYEES

11-50

KEY EMPLOYEES:

CEO: Benny Troushinsky

CTO: Tamir Erez

CMO: Tzafrir Kagan

COO: Amos Eylon

TEAM COMMENT:

We will be very excited to be part of Medici an appreciate if you engage us to banks/insurance companies/ brokerage firms

Momentum

FUNDED

NO

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES