Reprinted from the Intelligent Insurer, October 24 2022. European reinsurers are as keen to embrace online reinsurance pricing and placing as their peers in the rest of the world – and even have an advantage because of the greater frequency of face-to-face contact reinsurers and cedants have in the market. That is the view of Sean Bourgeois, chief executive officer of Tremor, the online reinsurance pricing and placing platform, which has unveiled its Reinsurer Product Council comprising eight global reinsurance companies and insurance-linked securities (ILS) funds representing nearly $100 billion in capital.

Panorama dramatically speeds up the placement of reinsurance. Consider the following statistics from Tremor’s placements: Reinsurers who participated on Tremor learned their final lines within three business days of submitting their authorizations. Cedents who placed with Tremor finalized coverage in five business days from the time Tremor started collecting authorizations, without having to invest time to set firm order pricing. By comparison, a traditional firm order terms (FOT) process often takes more than a month to resolve the same issues.

Tremor Technologies, Inc., the leading online reinsurance pricing and placing platform, is pleased to announce that its marketplace has transacted $175M of reinsurance premium in 2021 and has achieved exciting marketplace revenue growth of over 400% year over year. Since 2018, over $275M of reinsurance premium has been transacted on the Tremor marketplace. While the market has continued to harden overall and traditional reinsurance placements struggle, Tremor has had its best quarter yet delivering required capacity for challenging placements well ahead of renewal dates with record numbers of participating reinsurers.

Tremor Technologies, Inc., the leading online reinsurance pricing and placing platform, furthers its rapid adoption with tremendous growth at the venerable Lloyd’s of London. Today, Tremor has crossed the two-thirds threshold whereby 67% of Lloyd’s stamp capacity is now directly available to insurance companies seeking reinsurance protection via the Tremor marketplace. More specifically, 33 Lloyd’s Syndicates representing more than 70% of Lloyd’s Managing Agents have entered into agreements to offer coverage directly on the Tremor marketplace, representing over $33 billion of capacity.

Tremor Technologies, Inc., the leading online reinsurance pricing and placing platform, has surpassed an important $500 billion in reinsurance capital milestone this month signing its 115th reinsurer to its marketplace. Tremor now provides insurance companies direct access to more than 95% of the world’s reinsurance capacity across traditional reinsurers, Lloyd’s syndicates and ILS funds. In addition, Tremor recently announced that it has completed agreements with every major reinsurance broker in the world.

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.

Tremor and Root, Inc. (NASDAQ: ROOT), the parent company of the Root Insurance family of insurance companies, today announced that Root has successfully placed its June property catastrophe program with Tremor Panorama. As the leading online marketplace in reinsurance, Tremor enhances the placement process by using modern technology to help provide a more efficient and data-rich experience. “When we got the call that the Root team wanted to place their entire property catastrophe program with us, we were thrilled.

Insurance companies utilizing Tremor Panorama, the leading online marketplace for reinsurance, have sought over $700M in capacity from reinsurers in May alone. Beyond May, Tremor has booked more than $1B in new placement commitments while doubling its insurance company client base and growing its network to 105 reinsurers, a 20% growth in total capital. So far this year, the company has entered into new agreements with a top-10 U.S. insurance company, a top-3 global property & casualty insurance company, several innovative insurtech carriers and several specialty insurance carriers to place reinsurance programs on its platform.

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.