LONDON, Aug 7 - Israeli fintech company Vesttoo is in "active discussions" with potential investors to find alternative collateral for clients after discoveringVesttoo, which uses artificial intelligence technology to connect the insurance industry and capital markets, is also in contact with regulatory bodies worldwide, the spokesperson said in an emailed statement.
Vesttoo provides insurers with access to so-called insurance-linked securities - an alternative form of reinsurance. These securities may be backed by collateral in the form of letters of credit. If the securities turn out not to be valid, insurers will need to find replacement cover, or pay any insurance claims in full, industry sources say.Vesttoo - partly backed by Banco Santander's