FinTech Innovation Lab New York Selects Vesttoo to Participate in Program for Innovative Fintech and Insurtech Start-ups
This year's program is for insurtech and fintech solutions that leverage artificial intelligence and data analytics to address key industry challenges including sustainabilityApril 07, 2021
Vesttoo is very proud to announce that it has been selected to participate in the prestigious FinTech Innovation Lab New York, a 12-week program co-founded by Accenture and the Partnership Fund for New York City. The lab helps early- and growth-stage enterprise tech companies accelerate product and business development through in-depth engagement with top financial services and venture capital executives.
More than 200 companies applied to participate in this year’s program but only ten have been selected. Vesttoo was chosen to participate thanks to its innovative data-driven alternative risk transfer platform for the Life and P&C insurance markets.
Originally developed and launched in New York City by Accenture and the Partnership Fund for New York, the FinTech Innovation Lab has since expanded to Hong Kong and London and is aimed at companies leveraging innovative technologies for financial services - particularly in the areas of cloud, artificial intelligence (AI), machine learning, data and analytics, blockchain and more.
“We are very excited to collaborate with Fintech Innovation Lab and work with such a large network of industry leaders. We are thankful for the opportunity to benefit from their expertise to perfect our product and value proposition”, said Yaniv Bertele, CEO of Vesttoo.
Read FinTech Innovation Lab's press release.
Vesttoo specializes in AI-based 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 in alternative reinsurance or retrocession transactions.
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.