About Menora Mivtachim
Menora Mivtachim is an insurance company founded in 1935. It’s headquartered in Tel Aviv, Israel with products that include health insurance, car insurance, business insurance, and personal insurance. In addition, Menora Mivtachim also provides life assurance which covers the policyholder for their entire life.
Its name changed from the General Liability Office to Menora Mivtachim Holdings in 2006. In 2017, they invested approximately $30 million in Kushner Companies to help fund a Maryland development. Menora Mivtachim also invested $60 million with Canadian Solar Inc. to develop solar power projects in Israel.
The strategic team supporting IBM’s Alpha Zone joined with Menora Mivtachim in 2018. Together, they accelerate startups with the purpose of developing industry specific solutions for the enterprise market. Their program focuses on post Seed & Round A funded companies that bring innovation to Retail, Healthcare, Travel and Transportation, Energy and Utilities, Telco and Media.
In 2018, Menora Mivtachim increased their investment enormously by holding 4% in Wix. In that same year, the New York Times described Menora Mivtachim as “one of Israel’s largest financial institutions.”
Speeding Up the Digital Transformation to Beat the Competition
In recent years, especially due to self-service caused by pandemics, the insurance industry is going through massive digital transformation. With tight competition, the best customer service is the big winner. Menora, as many other insurance companies, has many legacy and enterprise systems that went through modernization and digitalization process.
The complexity of digital transformation of many large-scale systems poses a real challenge in ensuring the superior quality of internal and customer-facing applications. To win the competition and keep providing exceptional customer service, Menora reinvented its approach to testing and business process monitoring.
CloudBeat, with its revolutionary digital test automation and analytics platform, was able to fulfill Menora’s needs with a 365 degrees solution. The solution was provided for software quality aspects, development stages and production stages.