Lockton Re, the reinsurance business of the privately held independent global broking giant, has integrated reinsurance marketplace functionality from Tremor Technologies as part of its client offering.
Lockton Re has partnered with Tremor Technologies to deliver modern reinsurance trading capabilities to its clients.
The functionality has been integrated into Lockton Re’s SAGETM platform, giving it the ability to offer advanced pricing optimisation technology so that syndicated reinsurance programs can be executed in a programmatic manner.
Lockton Re’s SAGETM platform is its proprietary technology to help insurer clients better understand their risks and make informed choices over reinsurance related risk transfer options.
SAGETM enables a comprehensive and transparent view of all possible risk transfer structuring options for Lockton Re insurer clients, helping them to visualise, design and modify structures available to them.
Now, with the integration of Tremor’s advanced marketplace technology, these reinsurance buyers can use SAGETM to assess and determine the optimal structure for transferring their risks, while also being able to programmatically and efficiently trade them.
Claude Yoder, Head of Analytics, Lockton Re explained, “Our partnership with Tremor enhances Lockton Re’s ability to deliver the best possible outcomes to our clients. We have a Born Digital ethos at Lockton Re that means we’re constantly exploring new ways to leverage our modern technology platform to create more flexibility and efficiency. By integrating Tremor’s pricing technology we can now offer access to programmatic trading.”
“We’re excited to offer Lockton Re clients seamless access to Tremor’s advanced auction technology which delivers tangible benefits in speed and efficiency,” Tremor founder and CEO Sean Bourgeois added. “Lockton Re and Tremor both understand how effective technology can transform the reinsurance industry. The sophistication and capability of Tremor’s technology is unique in the market. When integrated with a forward-looking brokerage, the combination is powerful.”
Lockton Re said that it plans to have Tremor’s pricing technology available to its clients in December, providing their clients with a new, programmatic way to access diverse sources of reinsurance capital and place their risks.
By integrating an advanced marketplace tech platform like Tremor within the workflow for its own clients, Lockton Re is taking a forward-thinking approach to ensuring its clients have access to the full-range of options for reinsurance placement available to them.