AkinovA Company Profile

Background

AkinovA is a pioneering insurtech firm established in 2017, dedicated to revolutionizing the trading and transfer of insurance and reinsurance risks. The company's mission is to create a secure, regulated, and efficient electronic marketplace that facilitates seamless risk transfer among insurers, reinsurers, brokers, and investors. By leveraging cutting-edge technology, AkinovA aims to enhance transparency, liquidity, and accessibility within the insurance industry, positioning itself as a significant innovator in the insurtech sector.

Key Strategic Focus

AkinovA's strategic objectives include:

Digital Marketplace Development: Establishing a neutral, regulated platform for the efficient trading of insurance and reinsurance risks.

Technological Integration: Utilizing advanced technologies such as blockchain and machine learning to streamline operations and enhance security.

Market Expansion: Engaging with a diverse range of market participants, including brokers, insurers, reinsurers, and investors, to broaden the marketplace's reach and functionality.

Regulatory Compliance: Operating under the oversight of the Bermuda Monetary Authority (BMA) to ensure adherence to industry standards and legal frameworks.

Financials and Funding

Specific details regarding AkinovA's funding history, including total funds raised and notable investors, are not publicly disclosed. The company focuses on utilizing its capital to develop and enhance its technological platform, expand its market presence, and maintain regulatory compliance.

Pipeline Development

AkinovA's primary offering is its electronic marketplace for the transfer and trading of insurance and reinsurance risks. The platform is designed to support both primary and secondary market transactions, providing a comprehensive solution for risk transfer. Key developments include the integration of third-party data, news, and analytics to inform decision-making and the facilitation of secure communications between market participants.

Technological Platform and Innovation

AkinovA distinguishes itself through several proprietary technologies and innovative methodologies:

Blockchain Integration: Employing blockchain technology to create a decentralized and secure ledger for insurance transactions, enhancing transparency and trust.

Machine Learning Applications: Utilizing machine learning algorithms for document ingestion and pattern recognition, improving operational efficiency and data analysis.

OpenFin OS Adoption: Implementing OpenFin's operating system to provide users with a native app experience, enabling instant deployment and upgrades.

Leadership Team

AkinovA's leadership comprises experienced professionals with diverse backgrounds:

Dr. Henri Winand: CEO & Co-Founder. Former CEO of Intelligent Energy Holdings PLC, with extensive experience in financial and tech leadership.

Erik van Kaathoven: CFO & COO. Over two decades of experience in strategy development and execution in growth-oriented companies.

Sanjay Pritam: General Counsel. Former partner at Reynolds Porter Chamberlain LLP, with over 25 years of experience in financial services and insurance law.

Dr. Marcus Marr: CTO. More than 20 years in fixed income and credit risk investment banking and insurance technology.

David O'Gorman: Chief Risk Officer. Over 25 years in the global non-life (re)insurance industry, with expertise in financial reinsurance and modeling.

Leadership Changes

In December 2020, Dr. Henri Winand, CEO & Co-Founder, was recognized as one of the Top Ten InsurTech Leaders by ACORD, highlighting his significant contributions to the industry.

Competitor Profile

Market Insights and Dynamics

The insurtech industry is experiencing rapid growth, driven by the need for digital transformation in the insurance sector. The global insurtech market is projected to continue expanding as companies seek innovative solutions to enhance efficiency, customer experience, and risk management.

Competitor Analysis

Key competitors in the insurtech marketplace include:

Lloyd's of London: A traditional insurance marketplace with a long-standing history, offering a wide range of insurance and reinsurance services.

Insurwave: A blockchain-based platform for marine insurance, providing end-to-end digital solutions for risk management.

RiskStream Collaborative: A consortium leveraging blockchain technology to streamline data sharing and processes within the insurance industry.

These competitors focus on integrating technology to modernize insurance operations, with varying degrees of emphasis on blockchain and digital marketplaces.

Strategic Collaborations and Partnerships

AkinovA has established several strategic partnerships to enhance its platform and services:

Benchmark Labs: Collaborated to provide asset-specific environmental forecasting solutions, improving risk transfer decisions through in-situ forecasting technology.

Safe Security: Partnered to offer advanced cyber risk quantification solutions, enabling better analysis and pricing of cyber security risks.

OpenFin: Adopted OpenFin's operating system to enhance user experience with a native app interface and facilitate instant deployment and upgrades.

Operational Insights

AkinovA's strategic considerations include:

Neutral Marketplace Positioning: Operating as an independent platform without acting as a broker or carrier, ensuring neutrality and trust among participants.

Regulatory Compliance: Maintaining compliance with the Bermuda Monetary Authority to provide a secure and regulated environment for risk transfer.

Technological Innovation: Continuously integrating advanced technologies to improve platform functionality and user experience.

Strategic Opportunities and Future Directions

AkinovA's future roadmap includes:

Global Expansion: Extending its marketplace reach to new geographical regions, fostering a borderless environment for insurance risk trading.

Product Diversification: Developing new insurance products and services to meet evolving market demands and emerging risks.

Technological Advancement: Exploring the integration of artificial intelligence to enhance risk modeling, pricing, and decision-making processes.

AkinovA's innovative approach and strategic initiatives position it as a transformative force in the insurtech industry, driving the future of digital risk transfer.