Tremor’s 125 Reinsurers can now buy or sell UNL, Parametric, or Blended Retro Cover
Tremor Technologies, Inc., the leading online reinsurance pricing and placing platform, is pleased to announce that it has released RetroOS™, a cloud-based operating system for reinsurers buying and selling retro coverage. With RetroOS™, Tremor’s 125 reinsurers can now buy or sell UNL, Parametric, or Blended Retro coverage directly on-platform faster, better and more competitively than traditional placement. On the back of it’s record-breaking $175 million reinsurance premium year in 2021, Tremor is now excited to enter in the retro market in a major way in 2022. RetroOS™ consists of three components, RetroUNL, RetroParametric and RetroBlend.
For reinsurers that have a UNL retro structure ready, they can place it with Tremor Panorama so that they will see the market and get the right coverage at the right price.
Reinsurers looking to build a portfolio of parametric coverage can list the regions and perils they need and then optimize trigger and limit once they see the market – reinsurers can match a risk portfolio with category 4 hurricane protection in Florida and 8.0 earthquake protection in California, or adjust to category 5 hurricane and 7.7 earthquake to find the best execution for their needs.
For reinsurers debating between a UNL structure and parametric coverage, RetroBlend gives true market pricing for options before they buy. For example, reinsurers could list a $500M xs $500M excess of loss layer on Tremor alongside a Florida hurricane ILW that gives them similar protection, then use Tremor to mix and match between the two types of protection.
“Tremor continues to relentlessly innovate in the reinsurance market offering tools and technologies to buyers and sellers of protection that offer faster, better and more competitive execution. Given how tight the retro market has become, the Tremor team has been hard at work building RetroOS™ this quarter to solve traditional market challenges with modern trading technologies,” said Sean Bourgeois, Tremor’s Founder & CEO.