H2 Group, a Bermuda-based technology company specialised in developing bespoke solutions for the insurance industry, has announced its official launch and introduced its inaugural product, RUDDR, a policy management system.
According to the announcement, the company’s initial focus will specialise in developing bespoke solutions for the entire insurance and reinsurance industry, but its initial focus will be on the insurance linked securities (ILS) space.
The company also intends to expand into other verticals of the insurance industry in time, targeting areas where technology can modernise the insurance industry.
Removing layers of operational inefficiencies in the value chain is the company’s primary goal, something that Andre Perez, H2 Group’s non-executive chairman, deems paramount.
He commented: “Compared to other industries, the insurance sector has a lot of work to do when it comes to the use of latest technologies to enhance overall operations. There are several reasons for this apparent lag and H2 is set up to help improve the technology landscape in a collaborative and responsive manner.”
H2 Group has also introduced its first product, RUDDR, which works synergistically with investor-facing portfolio dashboards to grant investors unparalleled access and transparency into their collateral accounts, real-time data, automated reporting tools, and portfolio analytics.
This proprietary technology platform, H2 Group explains, utilises data to streamline the ILS transaction process, whether it be collateralized reinsurance, sidecars, or catastrophe bonds, creating a seamless user experience for investment managers allowing them to focus on optimising their portfolios rather than middle and back-office processes.
It will be available for licensing by any company involved in the management or administration of ILS transactions.
Leading the H2 technology team is Bror Muller. He has taken the role of CIO after a career as a reinsurance technology executive with more than 25 years of experience guiding teams in the design, development, and support of I.T. solutions.
Most recently, he led the technology team at Tokio Millenium Re that developed a trading platform hosting several billion dollars of ILS linked to the capital markets.
“While H2 Group’s initial focus will be on the ILS sector, it intends to develop technology solutions for insurance, traditional reinsurance, MGA/MGU’s, captives, as well as other related industry sectors,” said Muller.
