Video: How Redline runs on RiskOps to bring new technology and capacity to Latin America with Lloyd’s

The Latin American market contains many countries, each with its own currencies, compliance requirements, and data formats; historically, this has impacted the availability of reinsurance for SMB insurers in the region. For many reinsurers, the smaller premiums available from SMB insurers haven’t been worth the cost required to process the inconsistent data. Redline is changing that.

To accomplish their mission to bring world-class coverage to the SMB Latin American reinsurance market, Redline needed to make it easier for underwriters to write risks. They needed to simplify the ingestion of data from a submission so underwriters could write more deals, and they needed to preserve and manage data from the entire workflow in order to comply with the data governance requirements of a world-class capacity provider. 

After a thorough search of the underwriting technology landscape, Redline decided to build out their underwriting operation on Federato’s RiskOps platform. With Federato, Redline has shortened the time it takes to underwrite a risk from hours down to minutes, making it possible to write more risks overall. 

We visited Redline in Mexico City to hear from them firsthand on using technology to reinvent their market: 

After building out their underwriting process on the RiskOps platform, Redline sought coverage from Lloyd’s of London. As part of capacity discussions, they demonstrated their underwriting strategy within the Federato platform, including their submission workflow and data governance capabilities, They spoke to us about their philosophy on bringing world-class capacity to their market:

Redline successfully secured the coverage they sought, and began writing business on Federato as a Lloyd’s coverholder in fall 2024. 

Ready to try it for yourself? Request a demo today.