Reinsurance pricing and placement platform provider Tremor Technologies has announced the launch of TremorTalk, an embedded end-to-end modern communications platform.
Located within the Tremor marketplace, the new platform gives each reinsurer a dedicated channel to discuss placement with the cedent/broker, connecting everyone to the people they need to know to complete a transaction.
Each conversation is tied to its specific transaction so the buyer and their team can easily find it in the future, a Tremor spokesperson further explained.
Additionally, communication channels are placement specific. Reinsurance buyers can message specific counterparts as well as broadcast messages to all participants simultaneously.
The entire thread is maintained on the platform, available for viewing or downloading in the future – a complete audit trail of key communications with all parties during the placement process.
The communication protocol works similar to popular generalist applications like Slack, Tremor says, emphasizing that it aims to make the process simple and valuable while maintaining a clean audit trail of each transaction.
Sean Bourgeois, Tremor CEO, commented: “Disconnected emails, spreadsheets and third-party data administration applications have become a frustrating game of telephone tag during the traditional reinsurance placement process.
“Reinsurance buyers and sellers want simple, intuitive communication that is a source of truth combined with modern price discovery and optimal allocation. TremorTalk™ marries modern communication with our market leading pricing and technology placement.
Tremor sees TremorTalk as more than just messaging, as it is a fundamental building block for the company’s platform, it said.
“We see a natural evolution to better enable the wording of the agreement contract and negotiation of the facultative certificate and conclusion which is often a frustrating process that requires the management of many Word documents by email,” Bourgeois continued.
“Furthermore, we see the natural expansion of notification acquisitions and services. Finally, and perhaps most exciting of all, we see the possibilities of integration between TremorTalk™ and the rapidly developing ecosystem of AI tools that can augment the procurement and underwriting process in the future, more to come,” he added.
Tremor’s new communications platform is now available for placements to all 140 registered reinsurers and cedants using the company’s platform.