AkinovA, an electronic marketplace for the transfer and trading of insurance risk, has announced the addition of re/insurance industry veteran Tatsuhiko Hoshina to its advisory board.
Hoshina, who brings over 30 years’ experience to the role, built Tokio Millennium Re from its establishment in 2000 before going on to lead the firm in 2006 and helping its growth into a $1.2 billion multi-line reinsurer.
Prior to his involvement with Tokio Millennium Re, Hoshina in the late eighties served with Tokio Marine Nichido and helped drive its international expansion.
Now, Hoshina will assist AkinovA in establishing itself as the leading platform from which to transfer and trade cyber and property catastrophe risks.
By drawing on his in-depth knowledge of the reinsurance markets, its hoped Hoshina will play a role in the development of AkinovA’s ecosystem while driving growth and participation across the marketplace.
“AkinovA has achieved much over the last year,” commented Hoshina. “I believe that the timing is right for an electronic marketplace: they have the right proposition at a time when capacity providers need more liquidity and frictional costs are scrutinised.”
“This is also at a time when cyber risks offer an unprecedented growth opportunity but need electronic risk transfer to match what is a highly dynamic landscape. This requires the use of cutting edge technology.”
“We are seeing a gradual change in the mindset, prompted by a new generation joining the industry,” he added.
“They have different expectations compared to the older generations and it is a mindset that is very different to that of 20 years ago.”
“AkinovA’s approach to act as a one-stop-shop with integrated chat, document sharing, clearing services, price discovery, market animation analytics and third-party actuarial, data, news and analytics is truly powerful.”
“You need to have the right idea at the right time, with the right backing and the right people, which is why AkinovA will succeed”
Hoshina concluded by stating that AkinovA will be the platform that will “pioneer the way the market transacts reinsurance business in the future.”