Reinsurance News

Tremor releases cloud-based system for buying and selling retro coverage

2nd March 2022 - Author: Pete Carvill

Tremor Technologies has released RetroOS, which it calls ‘a cloud-based operating system for reinsurers buying and selling retro coverage’.

sean-bourgeois-tremorIn a statement, the company said that the 125 reinsurers that it does business with can now buy or sell UNL, parametric, or blended retro coverage directly through the platform. Tremor Technologies said that RetroOS is made up of three components—RetroUNL, RetroParametric, and RetroBlend.

Sean Bourgeois, founder and CEO of Tremor Technologies, said: “Tremor continues to relentlessly innovate in the reinsurance market offering tools and technologies to buyers and sellers of protection that offer faster, better and more competitive execution.

“Given how tight the retro market has become, the Tremor team has been hard at work building RetroOS this quarter to solve traditional market challenges with modern trading technologies.”

With RetroUnl, reinsurers that already have a UNL retro structure can place it with Tremor Panorama so that they will see the market and get accurately-priced coverage. With RetroParametric, reinsurers looking to build a portfolio of parametric coverage can list the regions and perils they need and then optimize trigger and limit once they see the market.

Tremor - The modern way to place reinsurance

RetroBlend, meanwhile, gives market pricing for options for reinsurers choosing between a UNL structure and parametric coverage.

Tremor Technologies seems determined to grow in 2022, after saying that its premium transactions totalled $175m in 2021, achieving marketplace revenue growth of 400% YOY. At the time, the company said that it had seen over $275 million of reinsurance premium transacted on its marketplace since 2018.

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