Platform company Tremor Technologies has launched its Reinsurer Product Council with its first cohort of eight global reinsurance companies and ILS funds participating representing nearly $100bn in industry capital.
The firm said in a statement that participating companies include a cross section of major US, Bermudian and European reinsurers as well as alternative capital providers.
The product council will meet quarterly as a group for a progress update on platform activity, a review of aggregate market data, feature development progress and to discuss the near- and longer-term product roadmap for the platform.
In addition, the council will have the opportunity to meet with Tremor’s product team and executive leadership between meetings on a direct basis to address specific ideas and opportunities.
Sean Bourgeois, CEO of Tremor, said: “Tremor is on a mission to create a transparent, price and cost-efficient reinsurance marketplace that benefits everyone. Tremor allows reinsurers to express exactly what they would like to authorize and ensures through its market model and technology that they receive it – in a way that keeps detailed, individual preferences confidential. This allows Tremor to find optimal clearing prices for everyone at the same time – powered by data and transparency. This approach maximizes optimal trade for everyone.”
He added: “Working directly with reinsurers as we continue to build features for the capacity side of our market is very important – not only to continue to educate them as to the benefits of authorizing capacity on the Tremor marketplace, but to ensure that they participate in the build process.”
