Bermuda based insurance and reinsurance focused software house Treefrog Consulting Ltd. has announced enhancements to its ILS and reinsurance deal pricing and roll-up platform Foundation, improving the way it deals with catastrophe bonds and adding new real-time portfolio analytics.
The Foundation platform has been around since 2020 and is used by a number of insurance-linked securities (ILS) markets, as well as reinsurance companies.
It provides a web-based software solution to help insurance, reinsurance and ILS businesses underwrite natural catastrophe covers world-wide.
Treefrog’s Foundation platform is designed with customer profitability in mind, while also aiming to deliver productivity enhancements to their businesses, by simplifying and automating the process of pricing reinsurance deals.
Treefrog President and Founder Dmitry Mnushkin, explained the evolution of the software, “Since developing the Foundation platform, we have been in constant communication with our customers to make sure it continues to evolve in a way that helps them keep their competitive edge and stay productive.
“We are excited to announce some new enhancements to the software with better support for cat bonds, enhanced geographic granularity and portfolio analysis at event-level in real-time.
“These are just a few of the latest improvements to Foundation that have been highly anticipated by our clients and made our platform an even more attractive option for local and international businesses.”
As well as faster pricing and analysis, the platform also offers advanced loss modification support, import of loss files in excess of 2GB in size, support for custom add-ins written in C# or Python, the ability to define deal groupings, and much more.
Foundation was originally designed to service the ILS industry by delivering superior deal pricing and portfolio rollup support, but is now also being used more broadly by reinsurance clients.
“Our first clients were deeply focused in the ILS space and we made sure our technology could support them,” Mnushkin said. “With our latest enhancements, we are thrilled to have welcomed innovative and progressive reinsurance clients and brokers to our platform and for the first time since our inception we now have clients in all three industry segments, including ILS, reinsurance and brokerage, represented on the platform. This clearly demonstrates the maturity of the software and its ability to fully serve multiple use cases.”