18 May 2023Analysis

Tremor creates new communication platform

Online reinsurance pricing and placing platform Tremor Technologies has launched TremorTalk, an embedded end-to-end modern communications platform within the Tremor marketplace.

“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,” said Sean Bourgeois, Tremor chief executive. “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.”

TremorTalk gives each reinsurer a dedicated channel to discuss a placement with the cedent/broker, connecting everyone to the people they need to know to get the transaction done. Reinsurers can ask questions; cedents can answer them and provide supplemental data. Moreover, the conversation is conveniently tied to the transaction, so the buyer and their team can easily find it in the future.

Communication channels are placement-specific. Reinsurance buyers can not only message specific counterparties, but they can also 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. The goal is to keep the process simple and valuable while maintaining a clean audit trail of each transaction.