Tremor granted rights to redistribute Best’s Credit Ratings
Boston, MA, May 4, 2021 – In February, Tremor launched its next generation marketplace, Panorama – giving reinsurance buyers unprecedented price discovery and allocation control with modern trading technology. Tremor is pleased to announce that it has been granted rights to redistribute Best’s Credit Ratings as part of Panorama, providing continuously updated, critical ratings information to buyers of reinsurance protection from within its marketplace. Best’s Credit Ratings are produced by AM Best, a global credit rating agency, news publisher, and data analytics provider specializing in the insurance industry.
“Tremor is excited to programmatically incorporate Best’s Credit Ratings into its online reinsurance purchasing flow. Understanding counter party credit ratings is a critical step for ceded re teams in the buying process. Tremor now allows buyers to choose their counter parties directly with visible, contemporary credit rating information and weight allocations across their panel before choosing their final price – our optimization technology automatically balances the result accordingly at the buyer’s selected clearing price.
Being able to do so with confidence that credit ratings are up to date is vital, and we are proud to be able to offer this service entirely programmatically within our marketplace, the first such online marketplace to complete this type of integration.” said Sean Bourgeois, CEO of Tremor.
Tracking credit rating information in a traditional placement is often a time consuming, error prone process. With Tremor Panorama this process is now entirely automated, audited and fully up to date. Tremor looks forward to adding further features to its Panorama platform this quarter as it continues to secure commitments from insurers looking to secure faster, better and more competitive reinsurance placements
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.
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