Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, believes the reinsurance market will be unrecognisable a few years from now, as participants move towards trading more efficiently with the help of its software.
Tremor has announced the launch of another valuable feature for its clients, Tremor X-Ray™, a user-friendly piece of functionality that allows reinsurance capacity and pricing to be filtered and analysed in real-time.
Tremor X-Ray™ offers clients of the marketplace powerful filters through which they can slice and dice the market to see where true reinsurance capacity supply is coming from.
The launch of X-Ray comes on the heels of Tremor Blackboard™, a real-time collaboration tool that enables remote and global teams to work together on their reinsurance placements.
Tremor has been incrementally adding significant value to its marketplace software over the last year, adding functionality that is truly useful to ceded reinsurance teams and protection buyers.
X-Ray offers protection buyers powerful real-time views of where reinsurance capacity is coming from for their programs.
Now, for the first time, insurers or other risk transfer buyers can filter by factors including partner group, A.M. Best rating and more, allowing them to see how supply flows in the reinsurance market.
Reinsurance markets can also be grouped together in various ways, including stacked groups, allowing ceded reinsurance teams to identify clearly where the most competitive supply, subject to their pre-defined constraints, is coming from and to react accordingly.
The launch of this feature means that Tremor now enables protection buyers to “see the entire market by capacity group and layer groups to get a truly multi-dimensional view of the complete reinsurance market for their placements,” the company said.
Sean Bourgeois, Tremor Founder & CEO commented on the launch, “I’m really proud of our high performance product and engineering teams that continue to ship world class features that the market wants and needs that separate Tremor from other reinsurance technology companies as we move the market forward. X-Ray™ is yet another powerful feature that Tremor offers that simply cannot be replicated in the traditional marketplace.”
Bourgeois participated in a recent live webcast we hosted on the data-driven future of reinsurance, during which he explained some of the changes he expects will happen in the way cedents buy protection, with the help of advanced technology.
Commenting on the launch of X-Ray, he said, “Insurers trading on Tremor are at the vanguard, continuing to move the market forward as it rapidly modernizes. The reinsurance market of a few years will look nothing like it does today.”