News | May 16, 2024

Trium & Wikifri Continue Successful Partnership, Launch Property Insurance

Alpharetta, GA (BUSINESS WIRE) - Wikifri, an insurance consulting firm and provider of the Insurance Daylight Data Solution, today announced its role in supporting Trium Cyber US Services, Inc. (Trium), a US-based Lloyd’s coverholder and underwriter, in expanding their insurance offerings to include commercial E&S property insurance. Following the successful launch of their cyber operations in January 2023 with Wikifri’s expertise, the company is now harnessing market opportunities in the E&S property space.

Trium, writing on behalf of Lloyd’s Syndicate 1322, plans on replicating its success in E&S property as it did in cyber. According to Trium, Wikifri’s strategic guidance and proven iBOOM framework have been central to this new venture.

“Wikifri’s iBOOM framework provided a robust foundation for our property insurance operations, just as it did with cyber,” said Trium's CEO, Josh Ladeau. "Their partnership is invaluable; they’ve repeatedly proven their unmatched acumen in constructing and launching successful insurance operations.”

Brandon Beauregard, Trium's Head of Property added, “Wikifri’s consulting and advisory services have been pivotal to our ability to launch our new property division with confidence and speed-to-market."

Wikifri’s iBOOM (Insurance Business-Oriented Operating Model) facilitated the establishment of Trium’s property operation. This robust framework ensured the precise documentation of capabilities, fostering alignment and encouraging collaboration with technology vendors for the property underwriting operation.

“In a world where agility is paramount, insurers must create their operating models with precision before venturing into new domains,” said Bill Freitag, Wikifri representative. “Our iBOOM framework is tailored to enable such speed and agility. Having previously partnered with Trium, the addition of property insurance was a natural progression, executed seamlessly due to our deep understanding of their business ethos and objectives.”

About Trium:
Trium Cyber US Services Inc is a Lloyd’s-approved services company providing cyber, technology and ancillary errors and omissions insurance coverage for US-domiciled risks, backed by Trium Cyber Syndicate 1322. The services company commenced writing business on January 1st, and in addition to insurance, offers clients access to complementary cyber risk management and real-time loss mitigation services.

About Wikifri:
Wikifri is renowned for its dynamic and proactive approach in the consulting arena, capitalizing on deep-seated insurance industry experience and advanced technological expertise. Our commitment to client triumph is unwavering, as demonstrated by our professionals’ extensive experience, strategic insights into the insurance industry, and a track record of successful project completion. Supported by our innovative Insurance Business-Oriented Operating Model (iBOOM) and a fit-for-purpose insurance data product, the Insurance Daylight Data Solution (IDDS), Wikifri continues to guide clients through the ever-evolving insurance landscape, fostering market development and enhancing organizational competencies and efficiencies.

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