London - based Akinova is working with the insurance industry to build a truly electronic marketplace for the transfer of re / insurance risks . Adopting an inclusive approach to ensure all parts of the insurance value chain are targeted , Akinova sees the marketplace potential to drive growth and innovation , and creates efficiencies that benefit the whole industry , rather than leading to the demise of Lloyd ’s London ’s physical marketplace . Just like the Nasdaq in 2008 – which it cites as the first disruptive electronic marketplace – this marketplace ’s smaller , independent approach is not expected to pose a competitive threat to insurance markets , posing a key obstacle to regulation : concerns over data sharing .
London-based Akinova is working with the insurance industry to build a truly electronic marketplace for the transfer of re/insurance risks. Adopting an inclusive approach to ensure all parts of the insurance value chain are targeted, Akinova sees the marketplace helping to drive growth and innovation, and create efficiencies that benefit the whole industry, rather than leading to the demise of Lloyd’s London’s physical marketplace. Just like the Nasdaq in 1971 – which it cites as the first disruptive electronic marketplace – this marketplace’s smaller, independent approach is not expected to pose a competitive threat to existing players, removing a key obstacle to adoption: concerns over data sharing.