Tremor to 'supercharge' reinsurance placements with next-gen Panorama

Programmatic reinsurance marketplace Tremor has launched its next generation trading platform, called Panorama, as it looks to "supercharge" the reinsurance placements process by offering cedents "100x more data" and greater pre-trade insight.

Tremor believes the new technology, which incorporates its learnings and market requests over the past two years, will "dramatically improve" the speed, quality and competitiveness of reinsurance placement execution with results "perfectly suited" to match the needs of the reinsurance market.

Tremor has surpassed $1 billion in risk priced and placed with its technology with almost 100 participating reinsurance markets across a range of programmes, structures and cedents.

Panorama is built on the same technical foundation as its original marketplace, but promises to offer 100x more data and greater pre-trade insight to make intelligent purchasing decisions.

Tremor claims that with Panorama cedents will be able to obtain the best single market clearing price for each layer for each programme, in either hard or soft market, in a more efficient manner. Cedents will also be able to see the whole market for their programmes through its Tremor Market Map, which collects the entire order book from all placement participants.

Additionally, the platform will enable cedents to compare real pricing for contract options in real time, while having complete control of the entire placement, taking into account long term relationships, credit quality and more as part of the binding process.

For reinsurers, Tremor says Panorama offers a "rich quoting language that allows them to express precisely what capacity they would like to compete for at various prices along with subjectivities across layers and types of quoting. Reinsurers can offer capacity on Tremor Panorama as they do in the traditional market, only with much richer preferences that will be respected. Individual reinsurer quotes are blind, sealed and held private, allowing reinsurers to be as competitive as they can be without concern that their market strategy becomes public."

Tremor noted that it works closely with reinsurance brokers on placements. Panorama will offer brokers advanced features to help their clients take advantage of advances in online trading of reinsurance.

Tremor’s chief executive Sean Bourgeois, said: “Tremor continues to innovate to dramatically improve the reinsurance buying process. While we celebrated placing $1 billion in 2020, we have much bigger goals for 2021. Panorama provides the ultimate platform to rapidly scale our marketplace, dramatically improving how insurers purchase reinsurance complementary to the broking process.”

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