Fleming aims to revolutionise retrospective reinsurance with new REvolve™ platform

Fleming Insurance Holdings, a provider of capital solutions to P&C re/insurers globally, has launched REvolve™, a new comprehensive platform designed to transform retrospective reinsurance.

REvolve™ integrates advanced risk evaluation, AI-enhanced insights, and seamless, recurring transfer of liabilities, aiming to drive continued value for counterparties.

The platform combines the strengths of Fleming’s proprietary solutions – PlannedLPT™, ReSolveRisk™, and RevealAI™ – to provide its counterparties with tools, capabilities, and capital needed to drive continuous value.

Eric Haller, CEO of Fleming, commented: “As the REvolve™ name implies, revolving capital solutions are going to drive the evolution of retrospective reinsurance. Fleming has always had a partnership mentality that is focused on continuously improving risk and outcomes for counterparties and stakeholders.

“The launch of our comprehensive platform is a crucial step forward for the industry as it modernizes its risk mitigation capabilities. We’re looking forward to collaborating with our partners through REvolve™ to bring them the best solutions possible.”

Fleming started work on RevealAI™ over 12 months ago. “We wanted to develop an AI platform to assist the team in mitigating risk, generating real, measurable value, and streamlining operations,” Haller added.

With PlannedLPT™, introduced in 2019, Fleming pioneered the industry’s movement toward recurring transactions by moving away from Exposure Solutions and toward Capital Solutions.

It provides counterparties with access to capital, known pricing and structure, and eliminates the typical asymmetry of diversification and information.

The ReSolveRisk™ platform supports REvolve™ from a risk and analytics perspective. It offers a comprehensive view of underlying risk, enabling detailed sensitivity and scenario analyses across multiple parameters, and facilitating the pricing of liabilities at any stage of their lifecycle.

RevealAI™, Fleming’s comprehensive AI platform drives value generation using structured, unstructured, and third-party data to deliver insights in an efficient timeline.

This allows the Fleming team to successfully manage exposures for itself and counterparties, focusing on the riskiest claims.

Fleming’s vision, since its inception, has been to disrupt the traditional legacy reinsurance paradigm by offering new solutions centered on recycling capital for counterparties and fostering recurring transactions.

Haller stated: “We look at our counterparties as partners, which means a longer-term relationship. Anything we can do to improve the risk of their underlying book means the liabilities we eventually get have less volatility associated with them, and we can pass that on through favorable terms of structuring and pricing.”

Fleming’s partnership approach has led them to complete over 12 recurring transactions, approaching $200 million in deal flow in the current year.

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