An innovative partnership combining the network markets of the United States and the United Kingdom, the two largest countries with the largest insurance network, left its mark on the industry.
InsurerCore, the UK-based professional risk appetite network, and Stere, the US-based capacity placement marketplace for capacity seekers and providers, have joined forces to create an “all-in-one” network and capacity-located client market that follows customer demands.
Executives say the next-generation platform will allow Stere MGA and program manager clients to access the critical London market network, while InsurerCore members can take advantage of Stere's advanced feature engine and program embed digital ecosystems. This will increase the success rate of program owner placement and better overcome capacity sourcing, speed to market and other industry-challenging hurdles. Reports show that the unique capacity/job search engine combines professional networking at the portfolio level.
InsurerCore is an insurance professional-only network that provides efficient and informed communication about risk and risk appetite. Detailed product listings, a tailor-made 'insurance search engine', advanced analytics and a scrolling news feed are just some of the features that support this. Talking about the new platform collaboration, InsurerCore Founder and General Manager Peter Clark said, “We are excited about the competitive advantages this Stere platform will bring to our customers. In the current insurance market where you know who is key, and by combining the power and coverage of the InsurerCore and Stere networks, we will give our customers access to capacity deployment opportunities and productivity gains that are not available anywhere else.”
Stere is a digital ecosystem for insurance programs. With Stere, program leaders provide the capacity and access to digital tools to start sooner and grow faster and smarter. Stere clients are ecosystem partners such as carriers, pre-carriers, reinsurers, brokers, program advisors and technology providers, along with "capacity seekers" such as MGAs, program managers and established insurance programs. “On average, carriers and reinsurers work with only 1% of the programs they review,” said Stere CEO Doğan Kaleli. By working with InsurerCore to build a game-changing ecosystem of capacity and networks, we aim to greatly expand the universe of capacity opportunities for portfolios, facilities and plans in the London market.”
If you want to access more detailed information about Stere, you can visit www.stere.io. If you want to access more detailed information about InsurerCore, you can visit www.insurercore.com.