Tremor Technologies, the leading online reinsurance marketplace, has launched its next generation trading platform, Panorama™. Tremor recently surpassed $1 billion in reinsurance risk priced and placed with its technology with nearly 100 participating reinsurance markets across a range of programs, structures and cedents. As the company has grown, its technology has evolved to perfectly match the needs of the reinsurance market - Panorama incorporates the company’s learnings and market requests over the past 24 months.

Tremor Technologies is thriving in the midst of a hardening reinsurance market, and heads into 2021 with broadening momentum. Proving that Tremor’s tech is truly market agnostic The value of Tremor’s reinsurance risk transfer technology has now been field-tested in soft and hard market conditions, bringing efficiency, transparency, and speed to the reinsurance placement process. In soft markets, Tremor’s technology gives cedants the ability to easily expand panels to enhance competition, and in hard markets Tremor quickly provides valuable price discovery when it is otherwise difficult to gather because market participants are holding their cards very close.

Lockton Re, the global reinsurance business of the world’s largest privately held independent insurance broker and Tremor Technologies have partnered to deliver modern reinsurance trading capabilities to Lockton Re clients. Lockton Re’s SAGE™ platform now integrates Tremor’s pricing optimization technology. The result is a programmatic option for the execution of syndicated reinsurance programs. SAGE™, Lockton Re’s proprietary software platform, helps insurers better understand risk impacts with a comprehensive and transparent view of all possible risk transfer structuring options.

For only the second time in recorded history, five named tropical cyclones are churning in the Atlantic at the same time, with Hurricane Paulette impacting Bermuda yesterday. “Tremor stands ready to assist the industry with live risk transfer during significant hurricane events. For re/insurers and ILS funds looking to buy protection discreetly, the Tremor marketplace is the ideal venue. We spun up a market for Hurricane Laura and we commit to do so for all hurricanes in the 2020 season, one of the most active seasons ever,” said Sean Bourgeois, Tremor’s Founder & CEO.

Today Tremor announced additional financing of $4M, which brings the company’s total funds raised to date to $15M. Anthemis Group, Berkley Ventures and Markel Digital Investments participated in the round. “We are humbled by the support from our investors who are also true partners to the company. The current funding will allow Tremor to further develop capabilities that we will be announcing over the coming months and gives us ample runway to outlast the slow adoption curve typical of traditional industries.

On April 2nd, Tremor opened weekly online Industry Loss Warranty (ILW) auctions to provide an active marketplace to transact coverage. While most re/insurance markets continue to remain challenged or closed entirely and while many intermediaries are calling for automatic contract extensions, Tremor is seeing rapid growth in the use of its fully online, programmatic marketplace to price and allocate re/insurance programs. Each week, Tremor posts a range of common ILWs for auction.