Programmatic re/insurance risk transfer marketplace, Tremor Technologies, has been granted the rights to redistribute Best’s Credit Ratings as part of Panorama, its recently launched trading platform.
The credit ratings by AM Best will be continuously updated within Panorama to provide critical ratings information to buyers of reinsurance protection using the marketplace.
“Tremor is excited to programmatically incorporate Best’s Credit Ratings into its online reinsurance purchasing flow,” said Sean Bourgeois, CEO of Tremor. “Understanding counterparty credit ratings is a critical step for ceded re teams in the buying process.”
“Tremor now allows buyers to choose their counterparties directly with visible, contemporary credit rating information and weight allocations across their panel before choosing their final price – our optimization technology automatically balances the result accordingly at the buyer’s selected clearing price,” Bourgeois explained.
“Being able to do so with confidence that credit ratings are up to date is vital, and we are proud to be able to offer this service entirely programmatically within our marketplace, the first such online marketplace to complete this type of integration.”
Tracking credit rating information in a traditional placement is often a time consuming, error prone process, Tremor notes. However, these issues should now be minimised for Panorama users, who will be able to rely on entirely automated, audited and fully up to date credit ratings going forward.
Tremor also confirmed that it plans to add further features to its Panorama platform this quarter as it continues to secure commitments from insurers showing interest in the new reinsurance placement platform.