(Image source: Vesttoo homepage.)
Vesttoo, a Tel Aviv-based provider of data-driven risk management solutions for the property/casualty and life/annuities markets, has announced that Longevitytech.fund (Prague) has become a shareholder through an equity investment. Vesttoo describes its technology as using AI and machine learning to forecast and price long-tail risks such as longevity, excess mortality, lapse, as well as Value-in-Force (VIF) monetization and excess mortality Industry Loss Warranties (ILW) and transfer them to the capital markets.
“We are very happy to have Longevitytech.fund on board,” comments Yaniv Bertele, CEO, Vesttoo. “Their investment is a huge vote of confidence for Vesttoo’s revolutionary risk modeling technology. Taking advantage of AI-based technologies to assess, price and transfer risk to the capital markets is the best way to bridge the insurance industry’s funding gap and face the industry’s challenges, especially post Covid-19 stress.”
Vesttoo says it uses cutting-edge proprietary AI and machine learning stochastic algorithms, to create highly accurate risk models and forecasts. The company asserts that it transforms the way securities are structured, offered, and traded, providing an accessible, flexible, scalable, and affordable streamlined alternative to traditional reinsurance.
Facing an Unprecedented Challenge
“We are excited to support Vesttoo’s revolutionary approach to the conservative insurance industry,” comments Petr Sramek, Managing Partner, Longevitytech.fund. “The aging population and the new scientific discoveries creates an unprecedented challenge for understanding and predicting future risks.”
Longevitytech.fund invests in what it deems the best of worldwide longevity-related companies based on close cooperation with top scientists in the field of longevity-related InsurTech and fintech, aging research and rejuvenation, biotechnology, bioinformatics, agetech, and related AI. The fund says it provides an active approach with entrepreneurial help, network and commercialization support. The fund claims decades of experience in building and mentoring high-tech start-ups, while its founders previously managed and exited multiple start-ups, including a start-up accelerator.