Tremor Technologies, an online reinsurance pricing and placing platform, has announced the launch of its Reinsurer Product Council. Eight global reinsurance companies and ILS funds are participating, representing nearly US$100 billion in industry capital. Participating companies include major US, Bermudian and European reinsurers, as well as alternative capital providers.

“Tremor is on a mission to create a transparent, price- and cost-efficient reinsurance marketplace that benefits everyone,” said Tremor CEO Sean Bourgeois. “Tremor allows reinsurers to express exactly what they would like to authorise and ensures through its market model and technology that they receive it – in a way that keeps detailed, individual preferences confidential. This allows Tremor to find optimal clearing prices for everyone at the same time, powered by data and transparency. This approach maximises optimal trade for everyone.

“Working with reinsurers as we continue to build features for the capacity side of our market is very important – not only to continue to educate them as to the benefits of authorising capacity on the Tremor marketplace, but to ensure that they participate in the build process,” he said.

The product council will meet quarterly for a progress update on platform activity, a review of aggregate market data, feature development progress and to discuss the near-term and long-term product roadmap for the platform, Tremor said. The council will also have the opportunity to meet with Tremor’s product team and executive leadership between meetings on a direct basis to consider specific ideas and opportunities.

More reinsurers will be joining the council soon, Tremor said. The council is open to all reinsurers and ILS funds.