Foundation Platform Technologies and Treefrog launch ILS and reinsurance deal pricing platform
Foundation Platform Technologies (FPT) has launched an ILS and reinsurance deal pricing and rollup platform called Foundation in partnership with Treefrog Consulting.
Foundation provides pricing, risk and portfolio management functionality.
Tangency, an ILS company launched in 2018 that now has $400 million in assets under management, has become the first full user of the software for its portfolio and investment management. Kai Morgenstern, a partner in Tangency, said the platform allows it to run its underwriting and portfolio management on a fully auditable platform.
“What excites us most about the platform is its ability to handle not only our immediate need of pricing our reinsurance contracts in the context of the entire portfolio but also the ability to track all the ancillary information about our transactions,” said Morgenstern. “Being able to define our own unique formulas and outputs in the system also gives us a lot of room to innovate within the platform as we move forward with our company’s growth targets."
Treefrog’s president, Dmitry Mnushkin, said its driving goal has always been to build a scalable, high-power application with a simplified deal structuring, pricing and analysis workflow.
“Working with leaders like Tangency and collaborating with our Amazon Cloud certified partners, Foundation fundamentally demonstrates how leading technologies are being embraced by innovators in the ILS and Reinsurance space,” he said.
Foundation’s engineering team won the 2019 Bermuda International Technology Innovation Award.
