Neon, the specialist Lloyd’s insurer, announced that it has selected TigerRisk Partners’ TigerEye platform as its pricing and roll-up tool to support the company’s increasing presence in the property reinsurance marketplace.
As previously announced, after completing a strategic review of the business, Neon (formerly known as Marketform) will be “entering the property reinsurance treaty market gradually and with a highly disciplined underwriting approach,” the company said in a statement.
“TigerEye is a powerful, fast, and intuitive reinsurance pricing and portfolio roll-up platform,” Neon added. (The roll-up platform accumulates all the risks across a portfolio to provide a comprehensive view of the portfolio’s risk).
The company went on to explain that the platform was developed five years ago and is being licensed “as the structuring and portfolio management tool of choice for a wide range of insurers, reinsurers, collateralized funds and model vendors.”
“Key to our success in the property reinsurance market will be advanced analytics, and for that reason we have selected TigerEye,” commented Darren Lednor, chief underwriting officer of Neon.
“We see opportunity in treaty reinsurance and are confident that the underwriting expertise we have in house, combined with market leading analytics afforded to us through the use of TigerEye, will allow us to develop strong and mutually beneficial reinsurance partnerships.”
About Neon and TigerRisk Partners
A member of Great American Insurance Group, Neon writes property, specialty, casualty and marine risks on a direct and reinsurance basis, as well as through delegated authorities.
TigerRisk Partners is a privately held reinsurance broker and risk/capital management adviser founded in 2008 by Jim Stanard, founder and former CEO of Renaissance Re, and Rod Fox, former CEO of the U.S. operations of Benfield. Headquartered in Stamford, Conn., TigerRisk has offices in New York, Bermuda, London, Hong Kong, Minneapolis, Chicago, Raleigh and Dallas.
Source: Neon
Topics Reinsurance
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