The Tel Aviv skyline at night. Photo: Gilad Avidan via Wikimedia Commons.

CTech – Axell, a Tel Aviv-based fintech and insurtech innovation hub, announced its official launch on Monday. The hub will be lead by Moshe Tamir, the former deputy CEO of Tel Aviv-listed insurance company Migdal Insurance and Financial Holdings, and the former global head of digital transformation at insurance company Assicurazioni Generali.

The innovation hub aims to bridge local and international insurance and financial corporations, including Generali, AIG, and Israeli health maintenance organization Maccabi Healthcare Services, with local startups, Tamir said in a recent interview with Calcalist. Axell intends to focus on partnerships rather than investing in the startups, Tamir said.