Travel Insurance Solution Rated Israel’s Most Promising Startup of 2024

Marketwatch rated Faye as The Top Travel Insurance Pick of 2024.

By Shula Rosen, United with Israel

Israeli startup Faye has taken the world by storm with its new travel insurance platform.

The company was rated by Marketwatch as The Top Travel Insurance Pick of 2024, and earned the distinction of Israel’s Most Promising Startup of 2024 – an impressive feat in a country known as The Startup Nation.

Marketwatch rated Faye the highest of 49 companies and said it earned the top position because of “its fast and simple sign-up process, direct deposit reimbursement option, and unique compensation for baggage delays.”

Faye’s travel insurance service is an entirely digital experience. The app makes it easy for travelers who need to purchase life insurance at the last minute, and refunds are sent directly to the traveler’s account.

In addition, Faye’s optional cancel-for-any-reason (CFAR) add-on covers up to 75% of trip costs.

Receiving the Award for Israel’s Most Promising Startup for 2024, Faye Co-Founder and CEO Elad Schaffer told Calcalist, “We’ve already established ourselves as a leading, and I would say, even favorite travel insurance provider. Now we want to take it to the next level by being your companion and protector when you travel,” Schaffer added. “You want Faye to be synonymous with travel as much as your passport and perhaps your phone is.”

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