AdvantageGo, a commercial insurance and reinsurance software provider that is a part of Coforge, has announced a strategic alliance with Tremor, an online reinsurance pricing and placing platform.
Tremor has modernised the way to place reinsurance. It provides reinsurance cedents with a new channel and an automated approach for finding the best market rates for reinsurance protection.
This alliance builds on previous announcements regarding the AdvantageGo Ecosystem. Ian Summers, the Global Business Leader, AdvantageGo said.
“The Tremor Panorama platform offering represents an evolutionary jump in the risk placement process for reinsurance. Our business relationship and strategic alliance with Tremor expands the frontiers of the AdvantageGo Ecosystem to new service providers and complementary offerings in the market.”
The cost of reinsurance has increased dramatically at recent reinsurance renewals. With the hard market pricing putting pressure on insurance carriers trying to renew their large reinsurance treaty programmes.
“Philosophically, Tremor is a company looking to evolve the way the market works, challenging its norms, but respectful of proven methodologies – all things with which we at AdvantageGo strongly identify,” Summers added.
Sean Bourgeois, the CEO of Tremor Technologies, Inc. said, “Tremor is excited to partner with AdvantageGo and to join its Ecosystem of technology solutions as its reinsurance platform partner
“Tremor is pleased to offer members of the Ecosystem digital access to the global reinsurance market coupled with modern pricing and placing tools to optimize treaty and facultative reinsurance purchases.
“We believe the industry is on the cusp of adopting modern trading technologies at scale and Ecosystems like AdvantageGo will help accelerate this trend.”