Isracard has received approval from the Capital Market Authority to market Phoenix's car insurance

Isracard has received approval from the Capital Market Authority to market Phoenix's car insurance, Clal Insurance Business, AIG and "Agricultural Insurance". The contract will be made in an objective agent model in which Isracard will receive identical commissions from all the companies, so that it will not have a greater incentive in marketing products for only some of them.
The credit company received approval from the capital market to enter this field a year ago, to the displeasure of the insurance agents, who tried to block the move. Isracard's board of directors has just approved the appointment of Ran Oz as the company's CEO, after ending his position as director of Migdal Insurance.
This move by Isracard in the insurance market is a big and significant move for the market and the company itself. The insurance market is a huge market and Isracard's entry into it opens up a large field for it. Isracard is exposed to very large data and its ability to reach customers is enormous and numerous. Market competition will intensify, but that still does not mean insurance companies will lose. Insurance companies usually (still) market the insurance through insurance agents and Isracard is a kind of "super agent". I mean, this is about the Phoenix and Clal Insurance while another big agent. So true, this agent is strong and threatening, but not sure that given the return he will bring it will not add to the bottom line. It is precisely the companies that insist on continuing with the agents' model that may find themselves harmed.
The entry of Isracard and the investment that will accompany it is unknown, but it is clear that changes are expected in the market. Isracard seems to be addressing potential customers and at the same time preparing a digital system, and in doing so it will in fact compete with direct insurance in digital companies as well - Libra and Vishor. Then it will be interesting, the competition in the market will increase, there will be those who will be harmed and there will be others who will actually benefit. To Isracard, this seems like a positive move. The stock today is falling at a significantly lower rate than the leading indices, a kind of confidence of the market during.
In his analysis of BizPortal, Yair Drori, a partner and VP of investments at Alternative Investment House, recently wrote that the Isracard share "has not yet been converted to investors, as so far the share yield has been nil.