We spoke with Sean Bourgeois, Founder & CEO of technology-based programmatic insurance and reinsurance risk transfer marketplace provider Tremor Technologies Inc. 

Bourgeois explained how the marketplace Tremor has created works, as well as its value proposition for insurance and reinsurance market participants. 

"We bring modern liquidity, while preserving relationships for cedents, brokers and reinsurers, essentially matching risk and capital much more efficiently than the traditional process today," Bourgeois explained. 

Adding, "The heart and soul of what we do really is about price discovery and syndication of risk, using technology to do that." 

He also discussed the industry-loss warranty (ILW) auctions that Tremor has been running on a weekly basis and how the data gathered on supply and demand appetite can be important for the broader market. 

The discussion also covered current reinsurance renewal market conditions and how technology can assist in clearing the market, particularly when conditions are more challenging as we've seen of late. 

"We see tremendous opportunity for brokers to capture that programmatic trading capability and in the case of where we sit today, to help unlock supply, help their clients complete programs, whether a full program or a shortfall, using technologies like we have," he said. 

Overall, he said the goal at Tremor is to help all sides much more efficiently transfer risk in the reinsurance and wholesale risk insurance markets.