Insurtech firm Accelerant has announced the launch of its Risk Exchange platform to further support specialty underwriters and drive market-leading, profitable growth.
According to the announcement, The Accelerant Risk Exchange, now in beta, is available to Member specialty underwriters, insurers, and risk capital partners.
The firm noted that the platform connects specialty underwriters with a hand-selected group of capacity providers, supported with the long-term capacity guarantee from Accelerant-owned insurance companies.
The platform contains a variety of capabilities, including providing users with access to a wide range of risk capital, from institutional investors to insurance companies, therefore allowing specialty underwriters to find the capacity they need to write the risks they want.
At the same time, the 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.
Lastly, the platform also provides tools that help specialty underwriters manage their risk exposures. As a result, this can help specialty underwriters reduce their risk and improve their profitability.
Jeff Radke, CEO and co-founder of Accelerant, commented on the launch: “From the beginning, we’ve asked ourselves, ‘How can we do more to make our Members successful?’ At the end of the day, our Members succeed when they are able to pursue all of the opportunities available in their markets. That’s only possible when they have full data transparency, great analytics for underwriting — and long-term capacity. That’s why we’re proud to unveil the Risk Exchange, which represents an important part of delivering prearranged capacity solutions for all of their business – current and future.
“By enabling our Members to access a number of different capacity providers along with Accelerant to best match the opportunity, our aim is that Accelerant Members never have to worry about capacity again.”
Matt Sternberg, Chief Operating Officer of Accelerant’s Risk Exchange, said: “We’ve 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 every single Accelerant Member still retains the 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 the innovative risk exchange model. Having the opportunity to both extend our long term commitment as well as be provided with additional capacity will help us continue executing on the long term vision we share for our business with consistent support from the same talented group of experts that have been instrumental in our success to date.”
