Relay Platform Inc

Relay Platform is an InsurTech venture making the process of structuring and securing reinsurance and large insurance placements simpler and faster. Relay helps reinsurance ceding teams, insurance underwriters and brokers quickly turn placement data into visual coverage towers, then use them to secure and manage quotes. It is a Lloyd's-approved London market e-platform.

Through a simple online platform, Relay offers increased control and integration in reinsurance for MGUs, intermediaries and reinsurers, with flexible templates which simplify the risk submission process to a user’s pre-approve reinsurer list. The Relay platform enables underwriters, ceding teams, reinsurance intermediaries and commercial insurance brokers to structure, secure and track complex risk placements quickly and easily by turning data from various formats into visual coverage towers (known as “risk towers” or “mud maps”). Those can then be used to secure quotes, both directly and through brokers, as well as to manage and optimise placement portfolio more holistically and in full compliance with security regulations.

Relay is currently engaged with carriers, reinsurers and brokers to power live placements, and was selected as a Plug and Play Insurtech cohort member.

Relay has corporate partnerships with Acord Solutions Group and the Global Insurance Accelerator.

In March 2020 the company raised $3m from American Family Insurance, Highline Beta, NFP Ventures and others. At the same time, the startup released its fully-fledged SaaS after two years of development and testing. The startup’s first solution focuses on facultative reinsurance placements, although it plans to expand rapidly beyond that.

The company was part of the InsurTech NY 2020 accelerator program. 

Relay launched a new AI-driven, broker-carrier quoting solution for the commercial and reinsurance industry, I5, in February 2021.

In July 2021 BMS Re, the independent specialist insurance and reinsurance broker, partnered with Relay to leverage its reinsurance solution “F1”, BMS Re and Relay jointly deployed the insurtech ventures’ broker portal, which combines a wide range of innovative features designed to increase the ease of doing business between brokers and their clients and markets.

In August 2022 At-Bay acquired Relay Platform, a startup which focuses on commercial insurance brokers in the US and Canada, complementing At-Bay's digital distribution strategy through its access to Relay's platform and API.