Rita Baal-Tacsa, a senior figure in the insurance sector, who serves as an Ayalon director and former VP at the Phoenix and also represented the Marsh insurance broker in Israel, has been appointed as VP at the Vesttoo insurtech company.
Rita is responsible at Vesttoo for partnerships with insurance markets and works for the benefit of insurers, reinsurers and underwriting agencies worldwide in need of capacity support for their ongoing activity.
The company operates in the area of ART (Alternative Risk Transfer). Vesttoo has developed a unique algorithm and a digital platform that uses artificial intelligence (AI) for transferring risks. An insurer interested in transferring risks is able to download its portfolio onto the platform, where a modeling and translation process to the standards of the capital market is carried out, and obtaining a solution that is suitable for it.
Vesttoo has a range of solutions for transferring risks, including easing of capital requirements and hedging long tail risks in general insurance and life insurance and pensions. The company for the first time has a solution that reduces funding gap that exists in the world reinsurance market, which is expressed in the insurance protection gap (IPG) reaching sums running to trillions of dollars.
The company is in a process of accelerated growth and its close business partners include the world’s biggest brokers, including Aon, Guy Carpenter, McGill, BMS, Acrisure, Gallagher and others.
The extent of the capacity transferred via the company, based on the base assumption for the 2022 work program, stands at seven billion dollars.