Insurtech company Accelerant has announced the launch of its Risk Exchange platform to further support specialist underwriters and drive market-leading, profitable growth.
According to the announcement, The Accelerant Risk Exchange, currently in beta, is available to members specializing in underwriters, insurers, and venture capital partners.
The company noted that the platform connects specialist underwriters to a select group of capacity providers, backed by long-term capacity guarantees from Accelerant-owned insurance companies.
The platform includes a variety of capabilities, including giving users access to a wide range of risk capital, from institutional investors to insurance companies, thus allowing specialist underwriters to find the capacity they need to write the risks they want.
At the same time, Risk Exchange also uses data to provide underwriting insights that help specialty underwriters make better decisions, and provide them with data that can be used to assess, price, and manage risk.
Finally, the platform also provides tools that help specialist underwriters manage their risk exposures. As a result, it helps specialist underwriters reduce their risk and improve their profitability.
Jeff Radke, CEO and co-founder of Accelerant, commented on the launch: “From the beginning, we asked ourselves, ‘How can we do more to make our Members successful?’ At the end of the day, our Members will succeed if they are able to pursue all the opportunities available in their markets. That is only possible if they have full data transparency, good analysis for underwriting – and long-term capacity. That’s why we’re proud to unveil Risk Exchange, which represents a key part of delivering pre-engineered capacity solutions for all their businesses – now and in the future.
“By allowing our Members to access a wide variety of capacity providers with Accelerant that best match the opportunity, our goal is that Accelerant Members will never have to worry about capacity.”
Matt Sternberg, Chief Operating Officer of Accelerant’s Risk Exchange, said: “We have long sought to realign incentives so that insurance works better for everyone. The Risk Exchange gives us the ability to introduce additional capacity for our Members, where each Accelerant Member still retains a long-term capacity guarantee from the appropriate Accelerant-owned insurance company. This is a remarkable paradigm shift for the industry.”
Josh Koppel, Founder and Program Head of Kube Risk, added: “We are excited to expand our strong partnership with Accelerant through a new risk exchange model. Having the opportunity to expand our long term commitment and providing additional capacity will help us continue to implement the long term vision we have shared for our business with constant support from the same talented team of experts who have been instrumental in our success. .”