London-based AkinovA, an electronic marketplace for insurance risk trading and transfer, has announced that it has selected OpenFin for the deployment of its trading platform for the risk transfer value chain. The supplier states that the integration with OpenFin is expected to enable users to access AkinovA’s marketplace.

“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.”

According to the supplier, the partnership is expected to allow AkinovA to expand its market scope by enabling new participants to enter and existing participants to transact more business. This would, in turn, create a secondary market for re-trading of re/insurance risks. The integration will also enhance its offerings and deployability.

“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 space.”

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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