The blossoming of the insurtech sector is forcing traditional insurance companies to adjust to the technological revolution. According to a source who spoke to Calcalist under the condition of anonymity, Israel-based Ayalon Insurance Company Ltd. is set to found an accelerator for startups in the insurance industry at an investment of NIS 10 million (approximately $3.1 million), a significant sum for what is only the seventh biggest insurance company in Israel. Ayalon's plans have already been filed for approval with the Capital Market Authority, Insurance and Savings.