Digital risk trading insurtech start-up Akinova, which promises a digital platform for trading insurance and reinsurance risks and will begin with an industry-loss warranty (ILW) type product, has appointed Thomas Heise of Insurance Income Strategies (IIS) to its advisory board.
Heise is based in Bermuda and has more than 25 years of experience in insurance, reinsurance and financial markets, most recently with his position as CEO of Insurance Income Strategies Ltd., the industry-loss warranty (ILW) focused insurance-linked securities (ILS) and collateralized reinsurance fund backed by 1347 Advisors and Kinsgway Financial.
Previously, Heise was the Co-founder and President of the Bermuda Commodities Exchange and the Bermuda Commodities Exchange Clearing House. He has also held senior positions at BlueGreen Re (which was a Class 3A reinsurance vehicle sponsored by investor Credit Value Partners), ILS facilitation specialist Horseshoe Group and insurer American International Group (AIG), Inc.
Akinova will task Heise with helping in the growth and development of its marketplace, looking to put his expertise in insurance securitisation and regulated exchange environments to work in their strategy to offer a liquid marketplace for insurance risks.
Akinova recently signed up Pierre Francotte, the former CEO of Euroclear and Susan Estes the co-founder and CEO of bond trading platform OpenDoor, both as additional advisory board members.