Who Are We?
The story of the El-Ad Insurance Agency began in the year 1905 when a young new immigrant from Russia, Alter Levin, opened an office in Jerusalem to sell insurance. He called it “Guaranty for Life”, recommending that Jerusalem residents take responsibility for their lives. Alter did business in Jerusalem for 30 years, selling policies of the European companies of Baron de Rothchild and of American firms. He was, as well, the exclusive importer of Edwards printing machines and sewing machines. As an innovative business man, he supplied the old Yishuv in the Land of Israel with information about insurance and was one of the pioneers in this branch.
Thirty years later, in 1965, his grandson, Mordechai Munin, decided to follow in his grandfather’s footsteps and established a family insurance agency in the center of Jerusalem, calling it El-Ad (the initials of his children).
In 2007, Mordechai Munin and his son Ariel made the strategic decision to expand El-Ad’s activities, with the goal of becoming one of Jerusalem’s leading agencies. To this end, through acquisitions and mergers, El-Ad succeeded in quadrupling its activities, and, by the year 2015, became Jerusalem’s largest insurance agency and one of the 25 largest private agencies in Israel.
El-Ad utilized the advantages of acquisitions and mergers to increase its knowledge of insurance and, in addition, to strengthen its position in a highly competitive market, to operate in all branches of insurance and to create the “one-stop shop” for the customer: property insurance (vehicle, residential and business premises) together with personal insurance (health and welfare, life insurance and pension coverage). In more recent years, El-Ad perceived the need for offering services in the financial field as well and so opened a separate division to cater to customer requirements in this area—saving, mutual funds, mortgage counselling and lending for all purposes.
It is El-Ad’s aim to be a slightly different type of company, especially with regard to its staff, understanding that its employees are its great strength.
The American Market
In 2008, El-Ad acquired one of the major insurance agencies serving Americans living in Israel and abroad—the Centurion Agency. Centurion was established by Moshe Goldberg, born in the United States. Centurion’s customers are American citizens who immigrated to Israel or acquired assets here. It is staffed by professionals, U.S. citizens providing service in English in accordance with the high standards customary in the U.S. We have succeeded in keeping this team together, to continue to expand our business with this group of customers and to design the best possible solutions to its insurance needs.
It is our aim to be the insurance agents (brokers) for Americans who work and live in Israel, to fulfil their particular requirements. Clearly, the needs of American customers vary somewhat from those of the Israeli public and an Israeli agency with an American orientation should be the “home” of these customers in all financial and insurance matters.