Hachshara Insurance Launches Credit Broker Platform to Expand Agent Services
Hachshara Insurance is launching a credit broker platform for agents to intermediate loans, mortgages, and business credit, expanding beyond traditional insurance and pensions.
Insurance agents in Israel are set to expand their scope of activity beyond traditional insurance marketing and pension fund management. The Israel Securities Authority is currently advancing an initiative, dubbed the "arbitrage committee", which will enable agents to market mutual funds for short-term savings, conditional upon obtaining an additional license. The Israeli mutual funds industry already manages 850 billion shekels, representing a significant growth engine for agents.
Meanwhile, Globes has learned that Hachshara Insurance, led by CEO Shimon Miron, is establishing a new "credit broker" platform for insurance agents. This infrastructure will allow agents to intermediate loans for their clients from banks, credit card companies, and non-banking financial institutions. Currently, agents are strictly limited to assisting clients in securing loans backed by funds within their specific provident or pension accounts.
Hachshara Insurance aims to empower agents to intermediate in sectors where they have not previously operated, including mortgages, general-purpose consumer loans for vehicle purchases and vacations, as well as credit for small and medium-sized enterprises, importer financing, and commercial real estate.
Hachshara plans to provide agents with professional accompaniment from experienced lending specialists and training in mortgage advisory. Agents will operate under two distinct models: establishing independent operations within their own agencies with Hachshara's guidance, or receiving tailored financing offers for their clients via Hachshara's credit broker platform.
Shimon Miron, CEO of Hachshara Insurance, confirmed the details, explaining to Globes that "the agent is the only professional who sees the complete and most up-to-date financial picture for their clients. Connecting to Hachshara's credit broker grants agents the knowledge, connections, and capabilities to translate this familiarity into a genuine value proposition. This is the first platform of its kind in the Israeli insurance market."
