Today, Tremor has crossed the two-thirds threshold whereby 67% of Lloyd’s stamp capacity is now directly available to insurance companies seeking reinsurance protection via the Tremor marketplace.
More specifically, 33 Lloyd’s Syndicates representing more than 70% of Lloyd’’s Managing Agents have entered into agreements to offer coverage directly on the Tremor marketplace, representing over $33 billion of capacity.
Lloyd’s Syndicates participating on the Tremor marketplace range from the largest in the market to more modestly sized, specialty Syndicates. All of whom have been trained on the platform and have priced at least one placement each on Tremor to date.
“We believe that Tremor is a perfect complement to the Lloyd’s of London marketplace, offering its Managing Agents and their Syndicates access to more risk, more often, more dynamically. Syndicates that have wanted to compete for larger shares of placements in the past but have been held back by traditional market structure are winning larger and larger shares on Tremor. We believe Tremor offers these Syndicates wonderful growth potential as we continue to bring risk to capital more efficiently - we look forward to further contracting with more Lloyd’s participants this year”, said Sean Bourgeois, Tremor’s founder and CEO.
The Tremor marketplace offers all reinsurance capacity providers the opportunity to authorize their capacity for placements exactly how they would like to, benefiting reinsurers and insurers alike with faster, better and more competitive reinsurance placement execution incorporating unparalleled data and transparency - simply unavailable in the traditional marketplace.
2021 has been an exciting year for the company, currently on track to triple volume as the industry moves into the busy year-end period.
About Tremor
Tremor is a venture-backed insurance technology firm where world class computer scientists, economists, market designers and industry practitioners are working together to build a modern risk transfer marketplace. Tremor's "smart market" platform incorporates intelligent market design, state-of-the-art auction technology and sophisticated optimization techniques to vastly improve how risk is transferred around the world.