Korra
SaaS platform connecting casualty reinsurance risk with capital through AI-driven transaction services
Overview
Korra is a reinsurance technology SaaS platform for the casualty reinsurance and insurance-linked securities (ILS) market, serving insurers, MGAs, reinsurers, and institutional capital providers. Launched in December 2025 as a spin-out subsidiary of Ledger Investing, Korra provides an integrated suite of applications covering deal sourcing, actuarial analytics, performance reporting, and AI-assisted contract interpretation across the full reinsurance lifecycle.
The platform includes four modules: Korra Marketplace for digital transaction execution between risk originators and capital providers, Korra Analytics for actuarial modeling and deal pricing, Korra Reports for automated bordereaux processing and financial statement generation, and Korra Contracts -- an AI tool that converts unstructured reinsurance agreements into queryable structured data. The technology was developed internally at Ledger Investing starting in 2021 before being spun out as an independent product offering.
Prior to the public launch, the platform was used across Ledger Investing's own casualty ILS operations, processing over 170 transactions representing more than USD 7 billion in gross written premium. Korra's parent, Ledger Investing (Y Combinator W17), raised USD 95.9M across a Series A and a Series B led by WestCap in 2024, funding the market expansion through which Korra was established as a standalone SaaS business.
Products & Services
Korra Marketplace
Digital transaction platform connecting casualty reinsurance risk originators with capital providers. Supports structured deal sourcing, execution, and lifecycle management within a single environment where reinsurers and institutional investors can discover and participate in casualty ILS opportunities.
Key Features
- Multi-party deal sourcing and execution in a unified environment
- Structured workflow from origination through close
- Capital provider and risk originator connectivity
Target Users: Insurers, MGAs, reinsurers, and institutional investors
Korra Analytics
Actuarial and data science toolset providing deal pricing, performance forecasting, and valuation capabilities for casualty ILS transactions.
Key Features
- Stochastic modeling for risk assessment
- Performance forecasting and deal valuation
- Market-standard analytics accessible to all deal participants
Target Users: Actuaries, underwriters, and capital market professionals
Korra Reports
Automates processing of bordereaux and ongoing performance reporting obligations for reinsurance transactions.
Key Features
- Automated bordereaux ingestion and reconciliation
- Collateral calculations and financial statement generation
- Contract-compliant, consistent reporting across transaction parties
Target Users: Operations and finance teams at insurers, MGAs, and reinsurers
Korra Contracts
AI technology that converts unstructured reinsurance contract documents into queryable structured data, enabling downstream automation.
Key Features
- Natural language querying of contract terms and provisions
- Automated cession calculations and collateral adjustments
- Claims handling automation without manual intervention
Target Users: Operations, legal, and compliance teams handling complex reinsurance agreements
At a Glance
- Founded
- 2025
- Headquarters
- New York, NY, USA
- Employees
- 11-50
- Funding
- Series B
Category & Focus
- Category
- Reinsurance Technology
- Subcategories
- ILS Transaction Platform Actuarial Analytics Contract Intelligence Bordereaux Automation
- Insurance Verticals
- Reinsurance Specialty/E&S
- Target Customers
- Carriers, MGAs/MGUs, Reinsurers
Customers
- Insurers and MGAs (risk originators)
- Reinsurers (risk acquirers)
- Institutional investors and capital providers
- Insurance brokers and intermediaries
Last updated: 2026-06-15