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Mobileye

Insurance Company Menorah to Provide 25% discount on comprehensive insurance for customers in Israel installing the Mobileye AWS (Advance Warning System)

January 2007

Bari Savir, VP Marketing and Sales of AWACS Ltd., “The collaboration with another insurance company demonstrates the importance which insurance companies are placing on safety technology as a way of preventing traffic accidents.”

Insurance companies are not waiting for government requirements and are adopting safety technologies as a essential service for their customers. An additional insurance company, Menorah, has signed an agreement with AWACS Ltd. the distributor in Israel
of the Mobileye AWS for road accidents. According to the agreement, Menorah Insurance customers will receive a 25% discount on the premium in their comprehensive insurance for their car when they install the system.

According to Menachem Harpaz, deputy general manager of Menorah, “We believe that the warning system’s technology will significantly reduce the driver’s involvement in car accidents and the extent of damages. As a leading insurance company in Israel, we view the prevention of accidents as an integral part of our work.

The discount to Menorah Insurance customers in the premium and the installation will reach a maximum of NIS 1,400 annually, which considerably reduces the cost of the system itself. This is due to the leasing model to non-Menorah insurance customers in which the yearly rate for the system is NIS 1,548, plus tax, paid in monthly installments of NIS 129, plus tax, over four years.

Says Bari Savir, VP Marketing and Sales of AWACS Ltd., “We welcome the cooperation of another insurance company with AWACS. We anticipate that additional companies will sign agreements in the near future, indicating the importance that the insurance world
is placing on safety technology as an intrinsic measure in road accident prevention. This decision of accident prevention, instead of addressing the problem only in retrospect, demonstrates a significant step in the struggle against road fatalities.

Mobileye AWS is designed to prevent road accidents that occur primarily due to driver inattention. The system provides three warning types: lane departure, headway monitoring, and forward collision warning. The technology is based on a small camera
located on the inside of the front windshield using image processing that provides warnings in dangerous situations. The system was developed by Mobileye in Jerusalem, world leaders in the development of vision systems for accident prevention, and is marketed in Israel by AWACS.

Furthermore, an immediate outcome of the system is not only accident prevention, but the system’s effect on driver behavior and its contribution to correct and more precise driving habits such as indicating prior to lane departure, safe headway keeping and so
on.

For further information, please contact: Tamar Ayalon, Morell Tzur Communications, 972-52-622-6278.