Plug and Play, one of the most active VCs in Silicon Valley, invests in Vesttoo
TEL AVIV, Israel, Feb. 9, 2021 /PRNewswire/ -- Vesttoo is proud to announce that Plug and Play, the global innovation platform that has funded companies such as Dropbox, PayPal and N26, has joined Vesttoo as a shareholder through an equity investment. Plug and Play invests in innovative "businesses of the future", making this investment an exceptional vote of confidence in Vesttoo's AI and Machine Learning technologies as well as the value Vesttoo can provide the insurance and capital markets.
Vesttoo's proprietary technologies harness the power of 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, allowing insurers, reinsurers and pension funds to adopt proactive strategic risk and capital management.
"We are very excited to have Plug and Play on board and to join the ranks of prominent and successful companies which have graduated Plug and Play's programs. In today's volatile economy and Covid-19 stress, 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 increasing challenges," said Yaniv Bertele, CEO of Vesttoo.
"We are very happy to support Vesttoo on their journey to bridge the insurance and capital markets. We invest in innovative insurtech companies that address the increasing challenges facing the insurance markets, and we believe that Vesttoo is uniquely positioned to do just that. We are looking forward to our joint collaboration," said Saeed Amidi, CEO of Plug and Play.
About 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, as well as VIF securitization and excess mortality ILW. The company provides insurers and pension funds with affordable, flexible and strategic risk transfer to the capital markets, while investors benefit from uncorrelated, high-yield investments with remote loss possibilities.
Using its cutting-edge proprietary AI and machine learning stochastic algorithms, Vesttoo creates highly accurate risk models and forecasts. Vesttoo transforms the way securities are structured, offered, and traded, providing an accessible, flexible, scalable, and affordable streamlined alternative to traditional reinsurance.
About Plug and Play:
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, they have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, their programs have expanded worldwide to include a presence in over 30 locations globally, giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 30,000 startups and 400 official corporate partners, Plug and Play has created the ultimate startup ecosystem in many industries.
Media contact:
Liran Grunhaus, Head of Marketing
[email protected]
SOURCE Vesttoo
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