As Tremor Technologies continues to advance its programmatic risk marketplace, the firm has hired a team of market designers that have previously advised governments, industry groups and leading companies.
InsurTech startup Tremor operates an open, technology-driven, programmatic market for the placement of reinsurance risk, and has completed a number of auctions so far in 2019, with more planned for 2019.
The new Tremor team is comprised of world leading market design experts, and is led by its Chief Economist, Peter Cramton, and also includes Noble Prize winner Al Roth of Stanford, Costis Daskalakis of MIT, Dirk Bergemann of Yale, Jakub Kastl of Princeton, Sven Seuken of the University of Zurich / Stanford, and Ben Lubin of Boston University.
Commenting, Tremor Chief Executive Officer (CEO), Sean Bourgeois, said: “Our mission is to build the world’s leading programmatic risk marketplace and we know that achieving our goal requires the world’s leading market designers. The Tremor team have dramatically improved how advertising, U.S. treasury, electricity, gas and spectrum markets trade with sophisticated application of auction technology and optimization mathematics.
“A complex matching engine for the risk industry is not something that you can lease, you need to build it yourself and this is highly complex and highly specialized endeavor that takes years to do properly.”
Providing some background on the new team, Tremor explains that Cramton is Professor of Economics at the University of Cologne, and since 1983 he has researched auction theory and practice.
Al Roth is the Craig and Susan McCaw Professor of Economics at Stanford, and also the George Gund Professor Emeritus of Economics and Business Administration at Harvard. In 2012, he shared the Nobel memorial prize in Economics.
Daskalakis is the X-Window Associate Professor of Electrical Engineering and Computer Science, a member of the Computer Science and Artificial Intelligence Laboratory (CSAIL), and also an affiliate of the Laboratory for Information and Decision Systems (LIDS) and the Operations Research Center (ORC).
Bergemann is the Douglass and Marion Campbell Professor of Economics at Yale University and has been Chair of the Department of Economics since 2013.
Kastl is Professor of Economics at Princeton University, and his research includes industrial organization, particularly the financial markets, auctions, and market design.
Seuken is an Associate Professor at the Department of Informatics of the University of Zurich and head of the Computation and Economics Research Group.
In 1999, Lubin joined BBN Technologies, the firm which developed the first internet routers, and worked on advanced multi-agent modeling, scheduling and logistics systems. Currently, he is a clinical associate professor in the information systems department of the Boston University Questrom School of Business.