Bermudian-based PartnerRe has entered into a joint strategic co-operation agreement with fintech firm RemitRadar.

PartnerRe wants to adopt RemitRadar’s online channels, social media channels and artificial intelligence technologies to engage with new customers and to develop digital insurance solutions for insurance clients.

PartnerRe and RemitRadar have entered into a joint effort to capitalise on RemitRadar’s money transfer ecosystem, web presence, and social media channels, including AI and Deep Learning technologies, to develop digital insurance solutions.

PartnerRe will be able to offer their customer base of more than 2,800 insurance companies privileged access to a new and innovative distribution channel, while RemitRadar will be able to offer a range of insurance products and services to its money transfer organisations.

The initial focus of the partnership is on emerging customers and millennials in providing them efficient access to effective and value adding group and individual insurance solutions.