Treefrog launches Foundation platform for ILS & reinsurance, Tangency Capital adopts

Treefrog Consulting Ltd., a Bermuda based software house focused on insurance and reinsurance market solutions, has launched its ILS and reinsurance deal pricing and rollup platform Foundation, with ILS manager Tangency Capital Ltd. signing up as a user.

The platform has been launched in partnership with Foundation Platform Technologies (FPT) and it will provide its users with a powerful pricing, risk and portfolio management solution for ILS and reinsurance transactions.

Tangency Capital is an insurance-linked securities (ILS) investment management firm focused on quota share reinsurance business and has become the first full user of the Foundation platform.

Tangency recently increased its assets under management to $400 million.

“Our team has been working to provide Reinsurance and ILS technology needs for more than seven years in Bermuda and around the globe and has invested the last three years in the development of the Foundation Platform.

“We are excited to officially bring our product to market with Tangency Capital being the first full user of the software for its portfolio and investment management – a milestone for Treefrog and FPT,” said a spokesperson.

Kai Morgenstern, a partner in Tangency Capital commented, “We are pleased to work with the very experienced and responsive team at Treefrog Consulting over the past six months in enhancing their technology and adding features and customized capabilities to the platform which allow us to run our underwriting and portfolio management on a fully auditable platform.”

Treefrog and the Foundation Platform Technologies team have spent a year working with reinsurance and ILS pilot users, including Tangency, using market feedback to turn Foundation into a pricing, risk and portfolio management solution that provides the functionality firms will require in tomorrow’s risk marketplace.

Morgenstern added, “What excites us most about the platform is its ability to handle not only our immediate need of pricing our reinsurance contracts in the context of the entire portfolio but also the ability to track all the ancillary information about our transactions.

“Being able to define our own unique formulas and outputs in the system also gives us a lot of room to innovate within the platform as we move forward with our company’s growth targets.”

Treefrog’s President, Dmitry Mnushkin also said, “Our driving goal was always to build a scalable high-power application with a simplified deal structuring, pricing and analysis workflow.

“Working with leaders like Tangency and collaborating with our Amazon Cloud certified partners, Foundation fundamentally demonstrates how leading technologies are being embraced by innovators in the ILS and Reinsurance space.”