September 5, 2019
AkinovA Leads InsurTech Innovation with Adoption of OpenFin, the Ubiquitous Capital Markets OS
Leveraging the global finance standard to minimize frictional costs and execute at speed with the best market data, OpenFin and AkinovA create superior technology for re/insurance
LONDON – 09:00, September 5, 2019 – AkinovA, the electronic marketplace for the transfer and trading of re/insurance risk, together with OpenFin, the operating system (OS) of finance, today announced the adoption of OpenFin for the deployment of its groundbreaking trading platform for the risk transfer value chain. This integration with OpenFin allows users to access the AkinovA marketplace with an easy-to-use interface that looks and feels like a native app experience while enabling instant deployment and upgrades.
“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,” said AkinovA CTO Dr. Marcus Marr. “Now, thanks to OpenFin we are proud to offer our users easy access to our secure, scalable, and standardized marketplace with a modern and beautiful end-user experience.”
AkinovA plans to grow the overall size of the re/insurance market by enabling new participants to enter and existing participants to transact more business and to create an effective secondary market for the re-trading of re/insurance risks bringing together third-party news, data and analytics from its users and partners. The integration with OpenFin will enhance deployability and serve as a pathway to scaling the AkinovA offering.
AkinovA is also working with a number of brokers, who act as key channel partners for the existing industry, to kickstart liquidity on the marketplace. AkinovA will provide them with a venue to service their clients’ needs in a more efficient and timely manner as well as give them access to new clients entering the market who would benefit from their advice.
“This development is paramount to what is about to be an incredible overhaul in the insurance and risk trading space,” said OpenFin CEO, Europe, Adam Toms. “AkinovA is the first InsurTech company running on OpenFin and we’re looking forward to enabling even more insurance companies and vendors to modernize their technology across the space.”
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