Citigroup Selects Vesttoo to Participate in Prestigious Program
Vesttoo was chosen to participate thanks to its strategic risk management solution, providing insurers with an affordable, efficient alternative to traditional reinsurance - for immediate capital relief, value enhancement and liability hedging.November 09, 2020
TEL AVIV, Israel, Nov. 9, 2020 /PRNewswire/ -- Vesttoo is proud to announce that it has been selected to join the prestigious financial technology accelerator program run by Citigroup. This accelerator for outstanding start-up companies provides mentoring and support from Citi professionals to enhance product, service, market approach, and more. The Citi accelerator offers FinTech and FinTech-related startups the opportunity to gain unique access to Citi worldwide as well as to its network.
Hundreds of companies applied to participate in this year's program but only a handful have been selected. Vesttoo was chosen to participate thanks to its strategic risk management solution, providing insurers with an affordable, efficient alternative to traditional reinsurance - for immediate capital relief, value enhancement and liability hedging.
"We are thankful for the opportunity to work in such an innovative environment and excited to collaborate with Citi and utilize their expertise to perfect our product", said Yaniv Bertele, CEO of Vesttoo.
Vesttoo specializes in data-driven risk management solutions for the P&C and L&P markets, using cutting-edge technologies to transfer general insurance, lapse, mortality and longevity risk to the capital markets.
The company provides insurers and pension funds with affordable, strategic risk transfer to the capital markets, while investors benefit from uncorrelated, high-yield investments with remote loss possibilities.
As a one-stop-shop solution provider, Vesttoo handles every aspect of the deal using its cutting-edge proprietary AI and machine learning stochastic algorithms, creating highly accurate risk models and forecasts.
Vesttoo's advanced risk-modeling technology transforms the way securities are structured, offered, and traded, providing an accessible, flexible, scalable, and affordable streamlined alternative to traditional reinsurance.
Citi's Accelerator was established after identifying the potential of merging Citi's well established position in the global financial markets with Israel's innovative, entrepreneurial and fast paced culture. The main objective of this unit is to understand and define new needs and opportunities in the financial arena and provide cutting edge startups for the financial markets. Galia Mor who oversees Business Development at Citi Accelerator welcomes Vesttoo to its 10th Wave: "Citi set up this program to assist startups with deep technology and innovative concepts -we are excited to have Vesttoo join us!"
Vesttoo has developed advanced technologies for data-driven risk management, transferring actuarial risk to financial risk through the capital markets. Vesttoo specializes in risk modeling and alternative risk transfer for the Life and P&C insurance markets, providing insurers with a low-cost strategic risk management solution for immediate capital relief, value enhancement and liability hedging.