BDA launches Bermuda Risk Directory

HAMILTON, Bermuda, May 04, 2017 -- The Bermuda Business Development Agency (BDA) has launched a new digital portal targeting global insurance customers and connecting them to Bermuda’s top-tier market for risk coverage.

The Bermuda Risk Directory website (http://www.brd.bm/) offers access to the island’s brokers, as well as insurance, reinsurance, captive insurance, and insurance-linked securities sectors, connecting users to the market’s globally-respected companies. Leveraging commissioned market research by Deloitte, the site represents a contemporary relaunch of the popular former Bermuda Market Solutions website and booklet.

“We’re excited to launch this intuitive, robust digital platform to underscore the capacity and innovation across our insurance and reinsurance market,” said BDA Business Development Manager Jereme Ramsay. “Building on the core principles of its predecessor, this website’s advanced search mechanism, navigation and mobile optimisation are designed to help drive new business to our world-respected jurisdiction.

“We’re grateful to our partners at Deloitte, who gathered data from the Bermuda market for this project, and all the participating firms across our risk industry,” Ramsay added. “The concerted efforts of carriers, underwriters, brokers, BDA colleagues, and our web developers, has been instrumental to this project’s success.”

With pull-down menus offering access to more than two-dozen lines of business, the new website provides listings for participating companies , a brokers directory and Find-a-Broker search mechanism (brokers are required for Bermuda market access by US-based clients). Users will also find an overview of the Bermuda insurance market and links to key industry groups and institutions, such as the Association of Bermuda Insurers and Reinsurers (ABIR), Bermuda International Long Term Insurers and Reinsurers (BILTIR), Bermuda Monetary Authority (BMA), and Bermuda Stock Exchange (BSX).

“All in one place you can find which Bermuda carriers offer which products,” said ABIR President and Executive Director Brad Kading, who said he regularly receives inquiries from potential insurance clients about the Bermuda market. “It’s a thriving market, one of the world’s top three, and this is the best way to figure out which carriers can best serve your needs.”

Alan Waring, past president of the Bermuda Insurance & Reinsurance Brokers Association (BIRBA) and one of the pioneers of the late-1990s Bermuda Market Solutions resource, said he was proud its legacy would continue.

“I am delighted to see the launch of this new and updated directory showcasing the enormous depth of solutions and options the Bermuda market offers to the global risk community,” he noted. “I have also been delighted to work with the BDA in moving this whole concept to the next level, and look forward to helping them roll out the project’s continued development.”

BDA will manage the site, working with Deloitte and design, website and advertising agency Cosmic to update the complimentary participant listings and data every six months and grow its directory with additional companies. “The BDA has done a fantastic job in developing the new BRD website, which now offers an unparalleled overview of products offered by the insurance and reinsurance market in Bermuda,” said Dan Roberts, Senior Manager, Consulting, Deloitte Ltd.

The site’s searchable database filters and sorts results in a modern, responsive framework to ensure ease of use by both desktop and mobile devices.

“Cosmic is excited to play a role in connecting businesses through modern technology, helping them to grow efficiently, operate globally and create new business opportunities,” said Sean Collier, Managing and Creative Director for Cosmic. “Our goal is to encourage and support Bermuda’s technological evolution to ensure its ability to not just compete, but lead in global markets.”

Bermuda-based insurance, reinsurance, broking, captive or insurance-linked strategy companies that would like to be added to the Bermuda Risk Directory can click here to provide new information or update a previous listing, or email [email protected].

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