US-based Innovative Insurance Companies Not in Israel

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US-based Innovative Insurance Companies Part 1

Two innovative insurance companies that have a global reach but have no activities in Israel include GEICO and The Progressive Corporation.


  • Government Employees Insurance Corporation (GEICO) provides insurance services to a broad range of clients in the government and private sectors. The company has over 17 million auto insurance policies in force and provides insurance for over 28 million vehicles.
  • The company offers "vehicles, properties, business, travel, and life insurance services, among others. GEICO Corporation serves clients in the United States." GEICO has international operations in Belgium, Germany, Italy, Spain, and the UK.
  • It has its headquarters in 5260 Western Avenue, Chevy Chase, Maryland.
  • GEICO has an annual revenue of $29.6 billion.
  • Peter Meoli is the Mobile & Digital Experience Director at GEICO. His email contact is and his phone number is (301) 986-3880.


  • GEICO established a state-of-the-art innovation hub in Indianapolis called the Center of Excellence. The hub focuses on developing software that will transform the customer experience of its insurance services.
  • The company is also adopting a "DevOps strategy and transitioning development to Microsoft Azure." This strategy will facilitate GEICO's transition to the cloud, providing "greater efficiency, superior application availability, and lower costs."
  • GEICO is partnering with Duck Creek (a systems provider) to "transition all personal lines to modern, configurable policy management and business platform called the umbrella line."


  • The Progressive Corporation is an insurance holding company that provides "personal and commercial automobile and property insurance, other specialty property-casualty insurance and related services."
  • It has about 20.4 million insurance policies in force and is currently the third-largest auto insurance company in the US.
  • The Progressive Corporation offers personal, vehicle, property, and business insurance and financial services.
  • Its headquarters is located at 6300 Wilson Mills Road, Mayfield Village, Ohio.
  • The Progressive Corporation has an international presence in Australia, and provides "proper insurance policy through MexPro in Mexico."
  • The company has an annual revenue of $22.8 billion.
  • Beth Toth is the Innovation Enablement Manager at The Progressive Corporation. Her email contact is and her phone number is (855) 347-3939.
  • As of 2018, The Progressive Corporation now has "a thriving direct-to-consumer business, which is supported by a number of 24/7 digital tools, including online policy service and management, online claims reporting, rate ticker (a comparison tool), independent agent locator, chatbots, and an instant quoting service."
  • The Progressive Corporation utilizes the Business Innovation Garage (BIG) for innovating products and services. It is essentially a virtual testing environment used by partners across the company to obtain and develop business solutions, which allows them to test and improve employee engagement and customer experience.


To identify US-based innovative insurance companies with a global reach, we leveraged a list of the top auto insurance companies in the US, as we expected that larger insurance companies would have more presence in the international market. We then researched the companies further to determine whether they had any presence in Israel, as defined by the research criteria. We were able to determine this status from the US Securities and Exchange Commission's (SEC) database, as we hoped to obtain all the legal details of their business transactions, partnerships, and affiliations. Also, we leveraged several media releases from sites such as PR Newswire and MarketWatch to find any information regarding their funding investments. After a thorough overview of the companies, we obtained two which did not have any presence in Israel and have provided our findings in that regard.
Finally, we were unable to find the head of innovation at GEICO, as there was no personnel listed with the same info. As such, we provided the Mobile & Digital Experience Director who is in charge of "driving innovation and mobility engagements in the mobile insurance space" at GEICO.
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US-based Innovative Insurance Companies Part 2

Two US-based innovative insurance companies that have a global reach but have no activities in Israel are Assurant and Everest.


  • Assurant provides support to some of the most popular global brands by offering solutions for their business challenges.
  • They provide solutions for major challenges such as costly car repairs, flooding, and unexpected funeral costs. They also offer solutions for smaller challenges like a malfunctioning appliance, a misplaced mobile device, and a broken phone.
  • Assurant's headquarters are located in New York City and it has operations in 21 countries in North America, Latin America, Europe, and Asia-Pacific.
  • The revenue of Assurant was $8.058 billion in 2018.

Existing Innovation Activities

  • Assurant partnered with Shift Technology, a Paris-based company to deploy innovative artificial intelligence (AI) solutions for fraud detection and other uses. Shift's FORCE solution was selected by Assurant after analyzing several options.
  • Assurant introduced Pocket Drive, an innovative device which enables auto dealers and their clients to obtain insights from the data connectivity of a vehicle through a mobile app. The device is used in Assurant's Global Auto business.
  • Assurant is currently calling on participants to take up NFTE’s World Series of Innovation (WSI) challenge by developing a solution that can help communities overcome challenges caused by catastrophic events.
  • Kunal Malhotra is vice president, product development and innovation at Assurant.

Everest Re Group

  • Everest is a top global insurance and reinsurance company having a wide range of products and distribution expertise, a culture of innovation, and strong financial records.
  • Everest focuses on the creation of long term value through robust management of risk and capital and underwriting excellence.
  • Everest has its headquarters in New Jersey and it has locations in several countries including Canada, the UK, Brazil, Singapore, and Switzerland.
  • The revenue of Everest was $7.38 billion in 2018.

Existing Innovation Activities

  • Everest Technology Services group obtained a CIO 100 award in 2019 for "achievement in technology innovation" for the creation of Catapult. Underwriters can use Catapult to quickly change coverage layers with greater flexibility.
  • ZERO®, Everest's innovative solution that promotes a safer workplace can help organizations to attain the new ISO 45001 standard of the International Organization for Standardization (ISO).
  • The ZERO® app received the Business Insurance Innovation Award in 2017 for its leading risk management solution.
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US-based Innovative Insurance Companies Part 3

UnitedHealth Group and Aetna/CVS Health are two of the largest global insurers located within the United States; neither company has any current activities in Israel. More details about each player are presented below.

UnitedHealth Group

  • UnitedHealth Group (UHG), with headquarters located in Minneapolis, Minnesota, is the largest insurer in the world (according to Insurance Business America and based on net premiums written). The company reported total revenues of $60.6 billion in the third quarter of 2019.
  • UHG, with its primary product, Optum, provides health care benefits to a global customer base made up of payers, care providers, employers, life sciences companies, health systems, and governments.
  • UGH was deemed Fortune’s 2019 top company, in its market, on the "World’s Most Admired Companies" list. Companies on this list are chosen based on attributes like social responsibility, innovation, and financial soundness.
  • The company is focusing its innovations on "addressing cost, quality, and access to health care—from early-stage research to pilot programs to new business models."
  • The specific innovations UHG is developing include the use of blockchain, digital health, and AI (artificial intelligence).
  • In 2018, Amil, UHG’s health plan in Brazil, was recognized for innovations and advancements in inpatient clinical care management that improved health outcomes (i.e., lowered mortality rates by 6%, reduced ICU length by 16%, reduced costs by 7%).
  • There were no specific titles within UHG noted as a head of innovation, nor were there published contact details on the company website. However, the contact page provides a general email address of that may be of value.

Aetna/CVS Health

  • CVS Health, whose headquarters are located in Woonsocket, Rhode Island, acquired Aetna in December 2018. Aetna still operates as an insurance provider and collected $53.9 billion in net premiums in 2017 (prior to acquisition).
  • CVS Health reported total revenue of $64.8 billion in the third quarter of 2019. Primarily known for its pharmacy services (including retail), CVS is now also a major global health insurance provider following the Aetna acquisition.
  • In the realm of innovation, CVS was named Fast Company’s #7 most innovative company in 2018. CVS Health is also partnering with UPS to begin the delivery of prescriptions for its customers (UPS is looking into using drones).
  • Another innovation connected to CVS Health involved virtual doctor visits, AI-powered chatbots, and connected devices.
  • While there are some reports that note CVS may be exiting Brazil, other reports highlight that its pharmacy chain in the country, Onofre, is accelerating digital investment to gain footing against its competitors.
  • Doug Safford is the noted head of platform innovation at CVS Health.

Research Strategy:

The research team identified the largest US insurers not serving in Israel by first identifying the top 25 global insurance companies (based on size). We identified the largest US-based insurers from the list and then crawled through major (e.g., company websites, annual reports) and minor online resources (e.g., social media accounts and third-party news outlets) for news on each insurer within the Israeli markets. A detailed description of each approach for each insurer is noted below.

UHG does not appear to have any dealings within Israel. The research team has made this determination after reviewing the company’s website, annual reports and SEC filings (2011-2018), and press releases/newsroom. Please note that the team also reviewed the posted markets served by UnitedHealthcare Global and Israel is not one of the markets (Europe, North America, and Latin America). Optum, a major UHG health insurance product within the United States, Brazil, India, and the United Kingdom, also does not appear to have any dealings in Israel. This is based on a careful comb through Optum’s website. After researching the annual reports, SEC filings, press releases, and third-party news reports about UHG and Optum, its leaders, and its press-worthy initiatives (for activities, personnel, or developments in Israel) the team is confident there are no UHG activities there that have been publicized or implied.

Aetna was recently acquired by CVS Health. Prior to the acquisition in December 2018, there were no published dealings that the research team was able to locate through annual reports, press releases, or third-party news sites regarding evidence of Aetna’s activities in Israel. A crawl through the website for CVS Health, its annual reports from 1997 to present, as well as newsroom activities intended for investors showed that the company, while serving in locations other than the US (i.e., Brazil), does not appear to have any current ties to Israel. This is despite its acquisition of one of the largest US insurers in the world (Aetna). The research team also applied an extensive effort to locate third-party sources mentioning investments or activities of either Aetna or CVS Health in Israel through third-party news sources (e.g., PR Newswire) but these types of sources did not reveal any published information.


From Part 03