Reinsurance pricing and placing platform provider Tremor Technologies has announced the launch of TremorTalk, an embedded end-to-end modern communications platform.
Available within the Tremor marketplace, the new platform gives each reinsurer a dedicated channel to discuss a 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 that the buyer and their team can easily find it in the future, a Tremor spokesperson further explained.
In addition, communication channels are placement-specific. Reinsurance buyers can message specific counterparties as well as broadcast messages to all participants simultaneously.
The entire thread is maintained in the platform, available for viewing or downloading in the future – a complete audit trail of key communications across all parties during the placement process.
The communication protocol functions similar to popular generalist applications like Slack, Tremor noted, highlighting that it aims to keep the process simple and valuable while maintaining a clean audit trail of each transaction.
ean Bourgeois, Tremor CEO, commented: “Disconnected emails, spreadsheets and third party data administration applications end up becoming a really frustrating game of telephone tag during the traditional reinsurance placement process.
“What reinsurance buyers and sellers want is a simple, intuitive communication single source of truth coupled with modern price discovery and optimal allocation. TremorTalk™ marries modern communication with our market-leading pricing and placing technology.”
Tremor sees its TremorTalk as much more than just messaging, as it is a fundamental building block for the company’s platform, it stated.
“We see a natural evolution to better enabling treaty contract wording and facultative certificate negotiation and finalisation which is often a frustrating process requiring the management of dozens of Word documents over email,” continued Bourgeois.
“Furthermore, we see a natural expansion into claims notification and servicing. Lastly, and perhaps most exciting of all, we see integration possibilities between TremorTalk™ and the rapidly evolving ecosystem of AI tools that could supercharge both the buying and underwriting process of the future, so much more to come”, he added.
Tremor’s new communications platform is now available for placements for all 140 registered reinsurers and cedents utilising the company’s platform.