FPT partners Treefrog on ILS platform; Tangency unveiled as first user

Foundation Platform Technologies (FPT) has partnered with Treefrog Consulting to launch a new platform that could revolutionize the way in which reinsurance and ILS deals are priced.

The Bermuda companies have launched what they are calling an ILS and Reinsurance deal pricing and rollup platform called Foundation - a pricing, risk and portfolio management solution for the sector.

The companies said they have been developing the platform for three years. They also unveiled Tangency Capital, an ILS company launched in 2018 which now has $400 million in assets, as the first full user of the software for its portfolio and investment management.

Kai Morgenstern, a partner in Tangency said: "We are pleased to work with the very experienced and responsive team at Treefrog Consulting over the past six months in enhancing their technology and adding features and customized capabilities to the platform which allow us to run our underwriting and portfolio management on a fully auditable platform.”

Morgenstern added: “What excites us most about the platform is its ability to handle not only our immediate need of pricing our reinsurance contracts in the context of the entire portfolio but also the ability to track all the ancillary information about our transactions.

Being able to define our own unique formulas and outputs in the system also gives us a lot of room to innovate within the platform as we move forward with our company’s growth targets."

Treefrog’s president, Dmitry Mnushkin explained: “Our driving goal was always to build a scalable high-power application with a simplified deal structuring, pricing and analysis workflow.

“Working with leaders like Tangency and collaborating with our Amazon Cloud certified partners, Foundation fundamentally demonstrates how leading technologies are being embraced by innovators in the ILS and Reinsurance space”.