For over 4,000 U.K. insurance professionals, finding program and portfolio capacity will soon be a whole lot easier with the new bespoke platform from InsurerCore and Stere. Responding to customer demand for an all-in-one marketplace that would facilitate both networking and capacity placement, U.K.-based InsurerCore, a professional risk appetite network exclusively for insurance professionals, and U.S.- based Stere, a capacity placement marketplace for capacity seekers and providers, have launched a unique capacity/business search engine that fuses professional networking with program and portfolio level matchmaking capabilities.
“We are thrilled by the competitive advantages this Stere platform will bring to our customers,” said InsurerCore Founder and Managing Director Peter Clarke. “In the current insurance market, who you know is key and by combining the strength and scope of the InsurerCore and Stere networks, we will give our customers access to capacity placement opportunities and efficiency gains found nowhere else.”
The partnership brings benefits to both sides of the Atlantic. Since the launch of Insurer Core’s Beta in 2020, the company has become the largest network of its type in Europe with over 2,000 insurers, MGAs, and brokers spanning 560 products from across the U.K. and abroad. The new joint platform means that Stere MGA and program administrator clients gain access to this key London market network while InsurerCore members have access to Stere’s superior selection engine and program placement digital ecosystem, which improve program owner placement success rate and tackle speed-to-market, capacity sourcing, and other challenges facing the industry.
“On average, carriers and reinsurers only work with about 1% of the programs they review,” said Stere CEO Dogan Kaleli. “In teaming up with InsurerCore to create a game-changing capacity and networking ecosystem we aim to vastly increase the universe of capacity opportunities for portfolios, facilities and schemes across the London market. Whether you are a carrier, reinsurer, reinsurance broker, or program admininstrator, our digitised processes eliminate manual capacity placement pain points and inefficient post-placement steps, making it easier and faster to place business.”
Authored by Insurercore and Stere