“Does this change the current role of the broker? Sure, ”said Bourgeois. “Does it bother reinsurance? Let’s be honest – it does. But for the better. Ceders get better execution, reinsurers more often see higher risk with capital being tied up for much shorter periods of time, just as they want. Brokers can focus on where they add the most value, and Tremor amplifies everything with a superior market model. Everyone wins. “
Tremor has seen significant growth since launching the latest version of its platform, Tremor Panorama, earlier this year. The company has pledged to triple its volume for 2021.
“Panorama is the natural evolution of tremor technology,” said Bourgeois. “But we don’t stop there, we start here. We’re continuing to build important new capabilities that do things the traditional market just can’t – for buyers who want to compare real-world prices for different hazard, structure, and contract combinations to show their CFO exactly how they are doing theirs in real time Optimizing purchasing, delivering optimizing. “
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The company has made several successful placements recently, including for Root Insurance Company. Bourgeois said the company is even more excited about broker acceptance.
“Brokers were starting to shiver and seeing our technology as a threat,” he said. “But what we have found over time is that brokers are quickly seeing the benefits we are bringing to them and their clients in ways that the traditional process simply cannot replicate when cedants ask their brokers to place placements on Deliver tremor. We believe this has been a key factor in the rapid adoption of any major broker this year. “
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