LONDON, 20 August 2020 – AkinovA, the electronic marketplace for the transfer and trading of risk, was named 'InsurTech Company of the Year' for a second year in a row at the Reactions 2020 London Market Awards. The award was announced during a virtual awards ceremony held on 19th August, hosted by Reactions London Editor Mark Richardson.
The winners were determined with the help of an expert judging panel consisting of Dominic Christian, Global Chairman, Aon Reinsurance Solutions; James Nash, CEO International, Guy Carpenter; Kate Markham, CEO, Hiscox London Market; Andrew Horton, CEO, Beazley; David Flandro, MD, Analytics, Hyperion X; and Dominick Hoare, Group CUO and Active Underwriter, Munich Re Syndicate.
The panel said that AkinovA was a deserved winner in the category because it proved itself to be one of the leading lights among new digital marketplaces. Its facilitation of an innovative parametric cyber product particularly impressed the judges.
The London Market Awards honour the industry’s leading underwriting companies, broking firms and service providers for their achievements in the past year in the London insurance and reinsurance markets. This was the second year that Reactions recognised an InsurTech Company in its own category. The category was hotly contested by Azur, C-Quence and Cytora.
Henri Winand, CEO of AkinovA commented:
“We are thrilled to have been selected as the 2020 Reactions Insurtech of the Year in the London Market for a second year in a row. This is a credit to our clients, partners, and of course, our team which was just strengthened with Dennis Mahoney’s arrival last week. The industry has just shown that it is capable of operating in a remote and digital environment. AkinovA offers the blend of technology, data and regulated neutral environment within which brokers, cover buyers and capacity providers can transfer and trade risks for their clients.
In addition to cyber risk transfers, we are active across insurance, reinsurance and ILS opportunities. Those now include trades across cyber, non-damage business interruption, climate resilience, mortgages and credit risks. We also bring pre-negotiated access to amazing data sets for our users to build innovative risk transfer products for their clients using our new Data Room SaaS offering, which are then listed electronically on the Marketplace."
AkinovA is an independent electronic marketplace for the transfer and trading of re/insurance risk which is regulated in Bermuda. The marketplace is a regulated electronic environment where insurance and reinsurance risks can access new sources of capacity as well as increase the efficiency of transferring and trading re/insurance risks in the primary and secondary markets. AkinovA also offers re/insurance service providers an additional channel to share their models, data and expertise with market participants. AkinovA is working with the existing re/insurance value chain to grow the overall market.
AkinovA operates with the regulatory oversight from the Bermuda Monetary Authority (BMA), under AkinovA’s Insurance Regulatory Sandbox licence.