Tremor now placing hundreds of millions of dollars quarterly via brokers

Expansive reinsurance marketplace Tremor has announced that it has secured agreements with 8 major reinsurance brokers representing over 95% of reinsurance placements worldwide. When combined with the 110 reinsurance companies, ILS funds and Lloyd’s Syndicates active on Tremor, the company has solidified its place at the center of the modernization of reinsurance risk transfer worldwide.

“We have said from the beginning that Tremor supercharges risk transfer with a new market model that benefits all parties. In a Tremor placement, reinsurance brokers focus on advisory, structuring and coordination of counterparties. Tremor supercharges pricing and allocation with faster, better and more competitive execution with modern trading technology. Pricing and allocation is much better managed with this technology - as is the case in every major capital market around the world,” said Sean Bourgeois, Tremor’s Founder & CEO.

“Does this change the broker’s current role? Sure. Does it disrupt reinsurance? Let’s be candid, it does. But for the better. Cedents get better execution, reinsurers see more risk more often with capital committed for far shorter periods of time exactly as they want it committed. Brokers get to focus on where they add value most and Tremor supercharges everything with a superior market model. Everyone wins,” continued Bourgeois.

Tremor’s growth since launching the latest version of it’s platform, Tremor Panorama earlier this year has exceeded everyone’s expectations. The company has commitments in place to triple its volume for 2021 and now receives several inbound inquiries each month from across the industry - brokers, cedents and reinsurers - looking to do more with the modern trading efficiencies Tremor offers.

“Panorama is the natural evolution of Tremor’s technology. But this isn’t where we stop, this is where we start. We are continuing to build major new features that do things the traditional market simply cannot - for buyers that want to compare real pricing for various peril, structure and treaty combinations to show their CFO precisely how they are optimizing their purchasing in real time, Tremor is delivering,” said Bourgeois.

Further to several recent successful placements including for Root Insurance Company, Tremor is even more excited about broker adoption.

“Brokers initially took to Tremor slowly, seeing our technology as a threat. But what we have found over time is that as cedents ask their brokers to deliver placements with Tremor, brokers quickly see the benefits we deliver to them and their clients in ways that simply cannot be replicated with the traditional process. We believe this has been a key factor to the rapid adoption of every major broker this year,” Bourgeois continued.