FINQ Insurance Agency Demands NIS 100,000 Compensation From Agents Over Negative Reviews

FINQ, an insurance agency founded by Eldad Tamir and with Nir Tsouk as a major investor, is demanding NIS 100,000 in compensation from several insurance agents. The company alleges these agents posted negative reviews on Google to harm its reputation. FINQ sent warning letters to the agents this week, threatening legal action. The company, which operates in the pension savings sector using a digital platform powered by technology and artificial intelligence, positions itself as an alternative to the traditional marketing model employed by insurance agents. FINQ criticizes agents for potential conflicts of interest due to commissions from institutional bodies, a point central to its marketing. The agency claims that in response to its criticism, some agents are attempting to damage its online standing.

FINQ stated in its warning letters that it identified an organized effort to harm its Google rating through negative reviews posted by agents or competitors who are not its clients. One letter, dated November 9, sent by lawyer Dr. Yishgav Nakdimon, details a case where an agent gave FINQ a one-star rating on October 27, shortly after other agents posted similar negative reviews. FINQ asserts this agent is not a client and the rating was intended to harm the company due to business competition. Although Google removed the review, FINQ argues this does not absolve the agent of responsibility for the damage caused. The company is prepared to pursue legal action if the agents do not pay the demanded compensation.

The agency's claim references a February court ruling where a one-star Google rating without accompanying text was deemed potentially defamatory when posted by a non-client and presented as consumer criticism. In that case, the court ordered the reviewer to pay NIS 12,000 in damages, plus legal fees. FINQ stated, "No entity can intimidate us. These entities are acting systematically and organized and are trying to sabotage our activity, including by lowering our site's rating on Google through libelous publications and misuse of the right to express criticism and consumer rating. This attempt failed and was thwarted by Google itself, which removed the libelous publications." FINQ insists that the removal of false publications does not negate responsibility, hence the demand for a public apology and NIS 100,000 compensation from each offending party. The company maintains its commitment to providing an objective digital platform for pension decisions, contrasting with what it describes as years of opaque, interest-based practices.

This is not the first confrontation between FINQ and insurance agents. In August, the Israel Association of Insurance Agents opposed a FINQ advertising campaign featuring Chef Ruti Brodo, which suggested agents' recommendations are influenced by their commissions. The association demanded FINQ cease or amend the campaign, calling it misleading and defamatory. The dispute dates back to June 2024, when FINQ removed posts from its Facebook page following protests from agents. The Association of Insurance Agents stated, "The Association works to promote a fair insurance and pension brokerage market, where competition is based on service quality, transparency, and suitability to the client's needs. These principles must also be reflected in public advertising. Savers are entitled to know how the recommendation they received was formulated, its implications, and what support will be available to them after making a decision. The commitment to fair advertising also underlies the Association's struggle against defamatory publications towards the public of agents and insurance agents, who work day and night for the insured and savers. Defaming an entire public of professionals is crossing a red line, and the Association will continue to wage the struggle with determination and without compromise until the wrong is rectified."