28th Sep 2020

MMC invests in Riskbook's £2m funding round to 'transform' the reinsurance experience

Riskbook, an independent provider of reinsurance technology, announced today that it had received a further £2m to investment to develop its Lloyd’s-recognised digital placement platform.

We're excited to be backing the Riskbook team again alongside Episode 1 Ventures and Seedcamp. MMC first invested in 2019.

Homegrown in the reinsurance industry, Riskbook was co-founded by Jerad Leigh (formerly of TigerRisk and Aon), Ben Rose (formerly of Aon and Lloyd’s) and technical co-founder Jezen Thomas (CTO). Their mission, to radically improve the reinsurance placing experience for brokers and underwriters following successful beta testing of the product with the U35s reinsurance group and garnered numerous awards, including additional investment as part of the Norton Rose Fulbright Insurathon.

The new funding will see Riskbook establish itself as the leading independent provider of reinsurance placement technology, doubling down on its industry expertise with new hires, such as Chief Actuarial Officer Dr. Paul Bassan (formerly Hokodo, Cytora and Aspen Re) along with making expansions to its in-house engineering team. Further enhancements to its existing broker to reinsurer interface are expected in addition to the launch of a never before seen service for cedents, which will automate the preparation and validation of submission exhibits in collaboration with their brokers.

Jerad Leigh, CEO of Riskbook, said: We are thrilled to be partnering with leading venture capital firms to create the placing experience the reinsurance community has dreamt of for decades. Paired with Riskbook’s win-win-win philosophy, this new funding cements our role as a trusted independent provider to cedents, brokers and reinsurers alike.”

Read more on this story via BDaily and Reinsurance News.

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