Here’s a great founder’s story as told by Michael Tauber, the Australian CEO of TravelCard. Tauber recalls that the Israeli company founder Alon Ketzef was the in the US 30 years and “tragically found out he had a brain tumour.”
His travel insurer “effectively told him we are not doing anything, go away and die.” Ketzeff spent a year in Massachusetts General Hospital before returning to Israel healthy but with a debt of USD450,0000.
“He flew home and decided to make it his life’s mission to pay back his family and then to make sure that no other Israeli would suffer that indignity again.”
The rest as they say is history. He created the David Shield Group, which has travel insurance operations in Israel, German and Australia.
The primary brand is TravelCard, which promises real-time travel insurance.
Its main point of difference, says Tauber, is that claims are paid fast, often while people are still travelling after a three-step process.
He says other companies can take as long as 45 days with 13 interactions between claimant and company.