In reinsurance, the very complex risk syndication problem hasn’t evolved for the past 20 years. This costs insurers and reinsurers dozens of billions of dollars in brokers fees, inefficiencies and non-optimal pricing every year.
To solve this problem, Bifrost is building a digital marketplace that relies on leading market-efficiency technology through AI algorithms. It delivers optimal pricing and risk syndication for every transaction, 10x quicker, and at a fraction of the cost.
They are building pilots with some of the largest French domestic insurers, to make their first risks placement in 2021.