Insurance Company AIG Israel to Pay Claims Using Mobile Payment App
The Israeli branch of AIG is in advanced negotiations to use mobile payment app Pepper Pay to pay off insurance claims, according to one person familiar with the matter
The Israeli branch of New York-headquartered insurance company American International Group Inc. (AIG) is in advanced negotiations with Bank Leumi, one of Israel’s two largest banks, to use its mobile payment app Pepper Pay to pay off customer insurance claims, one person familiar with the matter who spoke on condition of anonymity told Calcalist.
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Bank Leumi is also in similar negotiations with local insurance companies Phoenix Hldgs Ltd. and I.D.I. Insurance Company Ltd., the person said.
Shay Feldman, CEO of AIG Israel. Photo: Amit Sha'al
Last week, Calcalist reported that Israel’s Bank Hapoalim is in similar negotiations with Israel-based Harel Insurance Investments and Financial Services Ltd.
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Credit card issuer Leumi Card is also in negotiations with I.D.I., according to the person familiar with the matter. Bank Leumi currently owns Leumi Card but is required to divest it by 2020 following Israeli regulatory changes. A deal for Leumi Card to be acquired by New York-headquartered private equity firm Warburg Pincus LLC was signed in July and is currently pending completion.
