Tremor integrates AM Best ratings into Panorama risk marketplace

Tremor Technologies, the insurtech with a technology-based programmatic insurance and reinsurance risk transfer marketplace, has now integrated AM Best ratings into Panorama, becoming the first online marketplace to integrate ratings programmatically into its offering.

Tremor launched a next-generation update to its risk trading platform software, Tremor Panorama, earlier this year, bringing tools for buyers enabling a view of the market of competitive quotations before they bind risk capacity at their chosen price, all while allowing reinsurance capital providers on the other side to quote precisely how they want to, including any preferences they want to apply.

Now, all-important ratings from AM Best have been integrated, after the rating agency granted Tremor the rights to redistribute Best’s Credit Ratings as part of its Panorama platform.

With the new integration, Tremor can now offer continuously updated ratings information to buyers of reinsurance protection from within its marketplace.

Sean Bourgeois, CEO of Tremor explained, “Tremor is excited to programmatically incorporate Best’s Credit Ratings into its online reinsurance purchasing flow. Understanding counterparty credit ratings is a critical step for ceded re teams in the buying process. Tremor now allows buyers to choose their counterparties directly with visible, contemporary credit rating information and weight allocations across their panel before choosing their final price – our optimization technology automatically balances the result accordingly at the buyer’s selected clearing price.

“Being able to do so with confidence that credit ratings are up to date is vital, and we are proud to be able to offer this service entirely programmatically within our marketplace, the first such online marketplace to complete this type of integration.”

Tracking credit rating information during a reinsurance placement can be time consuming and also error prone, but Tremor’s integration will help reinsurance buyers select counterparties safe in thee knowledge they have their updated AM Best Credit Ratings information to hand.

The process is automated, audited and fully up to date, Tremor said, helping reinsurance buyers be certain of the current rating status of markets.

Tremor said it will continue adding new features to its Panorama platform over the course of this year, with the goal of helping buyers to achieve faster, better and more competitive reinsurance placements.