InsurerCore joins forces with US-based platform to create all-in-one marketplace

Professional risk appetite network InsurerCore has joined forces with a US-based platform Stere in a bid to create an “all in one” networking and capacity marketplace.

The pair will be launching a capacity and business search engine that fuses professional networking with program and portfolio level matchmaking capabilities.

The partnership explained that the new search engine was created in response to customer demand and is intended to bring benefits to both sides of the Atlantic.

It intends to make finding program and portfolio capacity easier for more than 4,000 UK insurance professionals.

Peter Clarke, InsurerCore’s founder and managing director said: “We are thrilled by the competitive advantages this Stere platform will bring to our customers.

“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.”

Eliminating pain points

Since the launch of InsurerCore’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 UK and abroad. 

The new joint platform means that Stere MGA and program administrator clients will gain access to this key London market network.

Meanwhile, InsurerCore members will 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.

Stere’s chief executive, Dogan Kaleli said: “On average, carriers and reinsurers only work with about 1% of the programs they review.

“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 administrator, our digitised processes eliminate manual capacity placement pain points and inefficient post-placement steps, making it easier and faster to place business.”