AdvantageGo, a commercial insurance and reinsurance software provider part of Coforge, has announced a strategic alliance with Tremor, an online reinsurance pricing and placement platform.
The earthquake has modernized the way of placing reinsurance. It provides reinsurance cedents with a new channel and an automated method for finding the best market price for reinsurance protection.
This alliance builds on previous announcements about the AdvantageGo Ecosystem. Ian Summers, Global Business Leader, AdvantageGo said, “Offering the Tremor Panorama platform represents an evolutionary leap in the risk underwriting process for reinsurance. Our business relationship and strategic alliance with Tremor expands the boundaries of the AdvantageGo Ecosystem to new service providers and complementary market offerings.
The cost of reinsurance has increased significantly with recent reinsurance changes. With the tough pricing market putting pressure on insurance carriers trying to renew their large reinsurance treaty programs.
“Philosophically, Tremor is a company that looks at the evolution of the way the market works, challenges its norms, but respects the proven methods – all the things we know- of AdvantageGo,” added Summers.
Sean Bourgeois, the CEO of Tremor Technologies, Inc. said, “Tremor is excited to partner with AdvantageGo and join its ecosystem of technology solutions as its reinsurance platform partner
“Tremor is pleased to offer Ecosystem members digital access to the global reinsurance market combined with modern pricing and placement tools to optimize treaty purchases and facultative reinsurance. We believe the industry are on the cusp of adopting modern trading technologies at scale and Ecosystems like AdvantageGo help accelerate this trend.
