Leveraging the global finance standard to minimize frictional costs and execute at speed with the best market data, OpenFin and AkinovA create superior technology for re/insurance
LONDON - 09:00, September 5, 2019 - AkinovA, the electronic marketplace for the transfer and trading of re/insurance risk, together with OpenFin, the operating system (OS) of finance, today announced the adoption of OpenFin for the deployment of its groundbreaking trading platform for the risk transfer value chain. This integration with OpenFin allows users to access the AkinovA marketplace with an easy-to-use interface that looks and feels like a native app experience while enabling instant deployment and upgrades.
“As an independent marketplace, our goal at AkinovA is to create a single, powerful, regulated trading and clearing platform that provides a seamless experience for the re/insurance industry,” said AkinovA CTO Dr. Marcus Marr. “Now, thanks to OpenFin we are proud to offer our users easy access to our secure, scalable, and standardized marketplace with a modern and beautiful end-user experience.”
AkinovA plans to grow the overall size of the re/insurance market by enabling new participants to enter and existing participants to transact more business and to create an effective secondary market for the re-trading of re/insurance risks bringing together third-party news, data and analytics from its users and partners. The integration with OpenFin will enhance deployability and serve as a pathway to scaling the AkinovA offering.
AkinovA is also working with a number of brokers, who act as key channel partners for the existing industry, to kickstart liquidity on the marketplace. AkinovA will provide them with a venue to service their clients’ needs in a more efficient and timely manner as well as give them access to new clients entering the market who would benefit from their advice.
“This development is paramount to what is about to be an incredible overhaul in the insurance and risk trading space,” said OpenFin CEO, Europe, Adam Toms. “AkinovA is the first InsurTech company running on OpenFin and we’re looking forward to enabling even more insurance companies and vendors to modernize their technology across the space.”
Move Fast. Break Nothing. OpenFin is the financial industry's operating system, enabling rapid and secure deployment, native experience and desktop interoperability. Used by the largest industry players through to the newest of FinTech innovators, OpenFin deploys more than 1,000 desktop applications across 200,000 desktops in more than 1,500 buy-side and sell-side firms in 60+ countries. OpenFin investors include Bain Capital Ventures, Barclays, DRW Venture Capital, NEX Euclid Opportunities, J.P. Morgan, NYCA Partners, Pivot Investment Partners and Wells Fargo among others. The company has offices in New York and London.
For more information, please go to: https://openfin.co
AkinovA has built an independent electronic marketplace for the transfer and trading of (re)insurance risks and is regulated by the Bermudan Monitory Authority (BMA). Founded by experts from Insurance, Technology and Capital Markets, AkinovA is working with the existing (re)insurance value chain to help grow the overall market.
AkinovA is backed by an accomplished Advisory Board with a wealth of experience in Insurance, Capital Markets and Technology. Whilst remaining an independent marketplace, AkinovA is working with leading insurance industry participants, including Hiscox and MS&AD Insurance Group, as well as Plug and Play Insurtech, NYC based marketplace venture capitalist FJ Labs, Israel based InsurTech/FinTech venture capitalist FinTLV and other undisclosed investors.
For more information, please go to: www.AkinovA.com