Travel Insurance Innovator Named Israel's Top Startup for 2024

Israeli startup Faye has rapidly gained global recognition with its innovative travel insurance platform, earning the title of Israel’s Most Promising Startup of 2024. This accolade, bestowed by Marketwatch, highlights Faye's rise in a country celebrated for its vibrant startup culture.

Marketwatch rated Faye as the top travel insurance pick of 2024, surpassing 49 other companies. The platform was praised for its swift and straightforward sign-up process, direct deposit reimbursement option, and unique compensation for baggage delays. These features set Faye apart, making it the highest-rated travel insurance provider of the year.

Faye’s service offers an entirely digital experience, designed for ease and convenience. The app allows travelers to purchase life insurance at the last minute, with refunds deposited directly into their accounts. Additionally, Faye’s optional cancel-for-any-reason (CFAR) add-on covers up to 75% of trip costs, providing flexibility and peace of mind for travelers.

Elad Schaffer, Co-Founder and CEO of Faye, expressed his gratitude upon receiving the award from 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 said. “You want Faye to be synonymous with travel as much as your passport and perhaps your phone is.”

Faye's success reflects the innovative spirit and entrepreneurial prowess of Israel's tech scene. As the startup continues to expand and enhance its services, it aims to become an indispensable part of every traveler's journey, offering reliable protection and support.

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