Israel's Vesttoo, a startup that specializes in data-driven risk management solutions for the insurance industry, is attracting the attention of financial and technical giants.
On Monday, the company announced it had been selected to join an accelerator run by Citigroup that provides financial technology (fintech) and fintech-related startups with mentoring as well as access to Citi worldwide.
Follow Israel Hayom on Facebook and Twitter
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.
Vesttoo provides insurers and pension funds with risk transfer to the capital markets, handling every aspect of the deal through its proprietary AI and machine-learning algorithms. The company says it provides an accessible, flexible, scalable, and affordable streamlined alternative to traditional reinsurance.
"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 Vesttoo CEO Yaniv Bertele.
Citigroup's invitation comes after Vesttoo announced last week that it has been selected to join the 11th class of IBM Alpha Zone Accelerator, one of only 10 startups to join the program this year.
IBM's accelerator is a 20-week program tailored for startups focused on next-generation IT solutions powered by machine learning and artificial intelligence, cloud computing, big data and analytics, and similar fields.
Bertele said Vesttoo was "very excited" to be taking part in this year's Alpha Zone program and looked forward to "collaborating with IBM and taking advantage of their expertise in technological solutions."
The company expects that work with the Alpha Zone program will provide it with global exposure and partnership with IBM, technology architecture design consulting and networking and guidance from mentors in the field.
Subscribe to Israel Hayom's daily newsletter and never miss our top stories!
