AkinovA first insurtech to adopt OpenFin OS
UK-based insurance risk marketplace AkinovA has adopted finance operating system (OS) OpenFin to deploy its trading platform for the risk transfer value chain.
This OS, which currently powers Wall Street, will give its first insurtech partner an easy-to-use interface with instant deployment and upgrades.
AkinovA is looking to grow the re/insurance market by encouraging more net new users and letting existing users transact more business.
“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,” says AkinovA CTO Marcus Marr.
The company envisions a secondary market for the re-trading of re/insurance risks, by bringing together third-party news, data and analytics from its users and partners.
To kickstart liquidity on the marketplace the fintech is also working with brokers who, it’s thought, can become key channel partners for the existing industry.
OpenFin’s Europe CEO Adam Toms sees this development as “paramount to what is about to be an incredible overhaul in the insurance and risk trading space”.
Toms adds: “AkinovA is the first insurtech company running on OpenFin and we’re looking forward to enabling even more insurance companies and vendors to modernise their technology across the space.”