Gefen International Acquires Roeto – Insurance Tech Upgrade

Gefen International (GFN.AX) is a ground-breaking Israeli high-tech company using A.I. technology to disrupt the $400 billion insurance and financial planning markets.

Gefen’s award winning ‘Moments’ platform instantly transforms any agent into a digital expert. The platform, which provides online support for companies, agents and customers, gives companies the ability to create a personalized web page for each of their agents in line with brand and compliance requirements.

The platform allows agents to effortlessly build and manage professional websites, active social media accounts, informational emails and chat communications.

As such, Gefen is the world’s first platform provider that transforms agent-based networks into digital sales fleets, and is already used by some of the world’s leading insurers.

Gefen’s AI technology also provides agents with automated and exclusive data, saving the agents many hours that would have previously been used to manually research the best deals for their clients. This results in less time spent and more money saved for all parties, as well as more revenue generated for agents, who can take on more clients. The platform’s backend reporting system allows each user to gather information and analyze client engagement and agent follow through.

Gefen went public in June 2021 and raised $25 million on the Australian Stock Exchange, with the current market cap of $69 million. Gefen generated $16 million in profits in 2021 and saw customers grow from around 60,000 to 123,000. That same year, over 16,500 agents were using the platform to provide complex financial products to their clients.

As a result of its remarkable success since its founding in 2016, Gefen is planning to expand into new sectors such real estate, pharmaceutical, healthcare, automotive and electronics. 

On February 7, 2022, Gefen announced that it had acquired majority stake in SaaS CRM platform firm, Roeto Ltd, which is also an Israeli based high tech company. Roeto has developed a customer management system platform designed for members of the financial consulting industry, such as life insurers and financial planners. 

Roeto’s software quickly collects data from insurance companies and clearing houses to help companies create informative customer portals. Roeto’s systems also allow its users to effecting and easily communicate with their clients.

Similar to Gefen, Roeto’s SAAS business model is based on granting a license to use the software and charging a monthly or annual fee. Roeto’s platform is easy to use, supports multiple hardware devices and dramatically simplifies the complex management of financial products. The platform also features data integration and analysis, internal CRM and other data that benefits the agent and the end customer. Roeto’s platform is available around the clock and is secured on the Israeli market.

Over the last 3 years, Roeto’s SaaS CRM platform has rapidly grown to service around 1,000 independent agents in Israel, which will be onboarded to Gefen. The acquisition thereby increases Gefen’s technological prowess and and increases the company’s overall market value.

Gefen’s purchase of Roeto thus exemplifies the growth strategy set out in its IPO Prospectus, which seeks to acquire and onboard independent agent networks in Gefen’s arena of operations.