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2025-01-15
In a world increasingly focused on climate change and sustainability, the insurance industry is facing unprecedented challenges in assessing and managing emissions-related risks. Enter Momentick, an Israeli startup that has just secured $5 million in funding to launch its groundbreaking emissions risk management solutions. Leveraging proprietary satellite-based technology, Momentick is poised to transform how insurers evaluate and mitigate risks associated with greenhouse gas emissions, particularly methane. This innovative approach not only addresses a critical gap in the market but also aligns with global efforts to combat climate change.
Momentick, an emissions intelligence provider, has raised $5 million in a funding round led by FinTLV Ventures, with participation from Menomadin Foundation and TAU Ventures. This investment follows a successful proof-of-concept (PoC) with Sompo Japan, a leading global insurer. Momentick’s satellite-based platform offers precise, real-time methane detection on a global scale, enabling insurers to assess emissions-related risks accurately.
The company has introduced the world’s first Emissions Risk Management service, designed to help insurers evaluate risks and create targeted policies. According to CEO and Co-Founder Daniel Kashmir, the lack of reliable emissions data has long been a challenge for insurers. Momentick’s technology bridges this gap, providing insurers with the tools needed to design policies that reflect the realities of climate change.
Founded in 2020 by Daniel Kashmir, Lev Oren, Dr. Ophir Almog, and Dr. Adam Eshel, Momentick aims to empower industries to reduce emissions, develop resilient insurance products, and accelerate the transition to net zero. The company’s innovative approach has garnered praise from investors and industry leaders alike, highlighting its potential to drive sustainability and innovation in the insurance sector.
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Momentick’s entry into the insurance space marks a significant milestone in the intersection of technology, sustainability, and risk management. The company’s ability to provide real-time, precise methane detection using satellite data is a game-changer for an industry that has traditionally struggled with quantifying emissions-related risks.
The Climate Risk Gap in Insurance
Insurance companies have long relied on historical data and traditional risk models to underwrite policies. However, the accelerating pace of climate change has exposed the limitations of these methods. Extreme weather events, regulatory changes, and shifting public sentiment toward sustainability have created a pressing need for more accurate and dynamic risk assessment tools. Momentick’s platform addresses this gap by offering real-time emissions data, enabling insurers to make informed decisions and design policies that account for the evolving climate landscape.
Methane: A Critical Focus
Methane, a potent greenhouse gas, has emerged as a key focus in global climate efforts. While it remains in the atmosphere for a shorter period than carbon dioxide, its warming potential is significantly higher. Momentick’s emphasis on methane detection is particularly timely, as governments and organizations worldwide are ramping up efforts to reduce methane emissions. By providing insurers with the tools to assess methane-related risks, Momentick is not only enhancing risk management but also contributing to broader environmental goals.
The Role of Technology in Sustainability
Momentick’s success underscores the transformative potential of technology in addressing complex environmental challenges. Satellite-based monitoring, combined with advanced analytics, offers a scalable and efficient solution for tracking emissions across industries. This approach aligns with the growing demand for data-driven sustainability initiatives, enabling companies to measure, manage, and mitigate their environmental impact.
Implications for the Insurance Industry
The of Momentick’s Emissions Risk Management service represents a paradigm shift for the insurance industry. By integrating emissions data into risk assessment models, insurers can better understand the financial implications of climate change and develop innovative products that address emerging risks. This not only enhances their competitiveness but also positions them as leaders in the transition to a low-carbon economy.
A Step Toward Net Zero
Momentick’s mission to accelerate the transition to net zero is particularly noteworthy. By empowering industries to reduce emissions and develop resilient insurance products, the company is playing a pivotal role in driving sustainability. Its collaboration with a leading global insurer sets a precedent for how technology can enable meaningful progress toward climate goals.
In conclusion, Momentick’s $5 million funding round and its innovative emissions risk management solutions highlight the growing importance of sustainability in the insurance industry. As climate change continues to reshape the risk landscape, technologies like Momentick’s will be essential in helping insurers adapt and thrive in a rapidly changing world. By bridging the gap between emissions data and risk assessment, Momentick is not only transforming the insurance sector but also contributing to a more sustainable future.
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Reported By: Calcalistech.com
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