Vesttoo, the technology company that uses proprietary artificial intelligence and machine learning solutions with the goal of helping companies assess and transfer risks to the capital markets, has announced a high-profile new addition to its advisory board, with former Swiss Re CEO Jacques Aigrain becoming Chairman.
Vesttoo wants, with Aigrain’s help, to transform the alternative risk transfer market for insurers and investors, making risk more readily available and investable through the use of advanced technology, models and indices.
Aigrain has roughly 30 years of leadership experience gained across insurance, reinsurance and capital markets.
His experience incldues roles such at global reinsurance company Swiss Re as CEO, as a senior financial advisor at Warburg Pincus LLC, plus leadership roles at JP Morgan in New York, London and Paris.
Yaniv Bertele, CEO and Founder, Vesttoo, commented on the news, “Vesttoo is honored to welcome an executive of Jacques’s calibre to lead its advisory board. Jacques’s extensive leadership experience spans the insurance and reinsurance sector and the capital markets, as well as corporate finance and governance. His expertise in these areas will be invaluable to Vesttoo as we continue on our mission to collaborate with both the insurance and capital markets to offer capital markets investors access to a wide range of insurance risks while providing liquidity and much needed capacity in the insurance and reinsurance sector.”
Jacques Aigrain, Chairman of the Advisory Board, Vesttoo, added, “I am excited to take on the leadership of Vesttoo’s strong and diverse global advisory board and help the company build on its success in the alternative reinsurance market. I have been impressed with Vesttoo’s growth as it leverages advanced technology to bring together insurers seeking to transfer liabilities, which are not covered by traditional reinsurance, and capital market investors targeting insurance-related investments.”
Vesttoo works with insurance and reinsurance market participants and capital market investors, to help them gain a better understanding of their exposures using technology, while constructing data based methods to structure risk transfer offerings that can tap into the capital markets as a source of reinsurance capacity.
Aigrain’s appointment comes soon after Vesttoo announced the launch of its Insurance-Linked Program (ILP), which is designed to be a multi-billion security-based investment portfolio, focused on non-catastrophe insurance risks.
The ILP is Vesttoo’s first venture into raising capital to support the transactions the company structures and it’s an innovative way to help investors make their existing high-quality assets work harder for them, while pledging them as reinsurance collateral.
Jacques Aigrain currently serves as Chairman of the board at Singular Bank and LyondellBassell NV, and is also a Non-Executive Director of the London Stock Exchange Group, WPP PLC and Clearwater Analytics (CWAN).
He will chair the advisory board at Vesttoo, which include executives from across the global and regulatory insurance space, executive financial experts and executives from the global business arena.