Ledger Investing has launched Korra, a separate SaaS platform company that aims to bring efficiency, transparency, and intelligence to the casualty reinsurance and insurance-linked securities (ILS) market.
Ledger has been developing the Korra technology stack internally since 2021. It has used it to structure, execute, and service over 170 casualty ILS transactions, representing over $7 billion in gross written premium.
Korra is now introducing that proven technology, refined through real-world application, to the wider market as an independent platform.
A comprehensive tech stack, the Korra platform is divided into four key products, including: Korra Marketplace, which facilitates digital transactions by connecting risk with capital; Korra Analytics, provides actuarial and data science capabilities to forecast performance and estimate deal value.
Additionally, Korra Reports automates the ingestion of bordereaux data and visualises financial statement and collateral calculations; and Korra Contracts leverages AI to transform complex contracts into structured data, enabling natural language querying and downstream automation.
“Korra is an end-to-end solution that meets the pre and post transaction needs of risk originators and capital providers,” said Umair Rasool, General Manager of Korra. “Customers can start in the application that solves their biggest problem today, knowing that the data created in one app is immediately available across the platform – reducing duplicate work, reconciliations, and manual handoffs between point solutions.”
Rasool continued, “It can also connect into your existing non-Korra and legacy systems, so one decision unlocks a network effect across the rest of your technology stack.” “We built Korra because we needed it ourselves,” said Samir Shah, Co-founder and CEO of Ledger Investing.
“We were in the trenches as a broker, risk modeler, asset manager, and collateralized reinsurer, processing complex casualty transactions at scale. That experience forced us to solve real operational, data and analytics problems. We’ve iterated on this technology deal by deal.”
Following the launch of Korra, the Ledger group of companies has been re-organised, establishing two primary operating divisions: Korra, the SaaS platform, and Ledger Investing, a reinsurance brokerage and advisory firm.
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