fintech in reinsurance & ILS

Swiss-headquartered fintech Cerchia said today that the first risk transfer arrangement has now been traded on its capital markets focused direct risk transfer platform, with a buyer and seller coming together to trade a $100bn PCS trigger Florida wind industry-loss arrangement.

Swiss-headquartered fintech Cerchia has now announced the launch of its awaited capital markets focussed direct risk transfer platform, a peer-to-peer digital tool that allows protection buyers to access institutional capital providers with no middlemen required.

The reinsurance renewal period has proven to be a challenging one for both capital providers and those looking to place risks, according to Giulio Genillard, Manager, Synpulse.

Swiss-headquartered fintech startup Cerchia has raised CHF 1.3 million in seed funding from High-Tech Gründerfonds (HTGF) and other investors, to help finance the ongoing development and first product launch of its capital markets direct risk transfer platform.

Joel Smith, Associate Partner at Synpulse, a global management consulting firm, has argued that digitizing processes and information exchange represents an important first step towards improved collaboration for insurance-linked securities (ILS) fund managers.

Munich Re Ventures, the insurtech and related risk technology investment arm of the global reinsurance company, has closed a $500 million capital raise for a new Munich Re Fund II and now looks to broaden its approach to investing in the most innovative start-ups transforming the future of risk.

The development of the insurance-linked securities (ILS) market has helped to enlarge global reinsurance capacity, according to SCOR one of the world’s largest traditional reinsurers, and the firm says alternative capital is a complement to reinsurance, not a substitute for it.