New Paradigm Uses X-gRm Electronic Platform to List Live Deals
Ft. Lauderdale (July 10) — New Paradigm Underwriters, originator of the revolutionary parametric (re)insurance products Hurricane PM™ & Industry Parametric Protection™ (IPP), has committed to using X-gRm, a fully electronic trading platform, as a method to place and purchase reinsurance coverage.
New Paradigm is seeking to trade up to $100 million of capacity using the X-gRm platform from Xchanging, a provider of technology enabled business solutions for the insurance industry. TigerRisk Partners is acting as intermediary and uses X-gRm to place all of its reinsurance business. “The X-gRm platform benefits both insurers and capital providers in several important ways,” said Patrick Gonnelli, Partner and Global Head of ILS Distribution and Trading at TigerRisk Capital Markets & Advisory. “It provides all parties with full, up-to-date information in one central location, it streamlines the workflow process, and it creates a more efficient market.