Re, the pioneering blockchain-driven reinsurer, has partnered up with VIPR Solutions (‘VIPR’) to enhance security, efficiency, and transparency by connecting MGAs, underwriters, and reinsurance brokers with capital on-chain. This combined approached of both brands represents a remarkable evolution in the reinsurance industry, bringing positive changes and opportunities for all involved. Historically, data has suffered from significant lack of processes as it moves along the insurance value chain.
Now with VIPR, Re can secure the processes data on-chain to ensure that regulators, underwriters, and capital providers have the same view of the performance of any given insurance program. Re is embracing a new era of hyperconnectivity. Their visionary approach is set to bring about revolutionary improvements while maintaining a strong focus on risk management. Re was established in late 2022 and serves as an innovative provider of reinsurance capital to insurers by leveraging the power of blockchain technology.
This allows members to access insurance premiums and enjoy best-in-class transparency and performance. Despite its recent entry into the market, Re already supports $35 million in gross written premiums across the U.S., with ambitious plans to expand its footprint to over $100 million in the near future.
This partnership between Re and VIPR promises a brighter future for the reinsurance industry, with technology at the forefront, driving growth, transparency, and new possibilities for all stakeholders.
Above RE
Re, a fully collateralized reinsurer, connects alternative capital providers to the nearly $1 trillion reinsurance market. With robust regulatory oversight, Re offers unique access to a traditionally opaque asset class. The Re protocol, a cutting-edge Web3 application, drives unmatched transparency in capital position and performance, benefiting partners, investors, and regulators. Explore the future of reinsurance with Re at Re.xyz
Reaction
As we continue to grow rapidly in the reinsurance space, having a world-class partner like VIPR to support our protocol with secure and seamless data sharing and standardization is essential. VIPR’s best-in-class data platform will bolster our ability to back a diverse range of insurance companies and their programs, further enhancing the transparency and complexity of Re’s protocol.
Re’s groundbreaking approach to reinsurance is transforming the industry, bringing transparency and new capacity to insurers and MGAs through blockchain technology. We are delighted to join forces with Re and offer our data management expertise to support their innovative mission. Together, we’ll ensure the right systems, processes, and technology are in place, providing Re with a solid foundation for their protocol.