Tremor, a programmatic insurance and reinsurance risk transfer marketplace, has bagged $10m in new funding.
Anthemis Group is the lead investor to the round which sees W. R. Berkley Corporation and several new strategic investors join previous Tremor backers Nephila Capital, Markel Corporation.
With the capital., the company hopes to develop its marketplace to include enhanced quoting and management capabilities. Additionally, the FinTech plans to expand the size of its team.
In its pipeline, the company is set to launch a selection of new features including, enhanced quoting, rich analytics, a broker interface and dashboard management.
Tremor aims to establish a modern risk transfer marketplace which optimises how risk is transferred around the world. Its platform offers quoting and matching technologies to offer the best pricing and syndication for every risk.
W. R. Berkley Corporation president and CEO W. Robert Berkley, Jr. said, “We chose to place our main property catastrophe program with Tremor last year, after over 18 months of technical due diligence, because we believed its platform had the potential to bring important efficiencies and capabilities to the placement process.
“We became a shareholder in Tremor because our use of the platform validated that early hypothesis, and we are enthusiastic about the potential positive impact Tremor’s technology can have on the insurance business.”
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