Accelerant, a private equity-backed unicorn focusing on the specialty insurance market, has launched a new digital platform to drive superior underwriting results.
The offering, known as app.accelerant.ai, introduces AI-driven risk scoring designed to deliver real-time feedback on risk quality for specialty underwriters.
These capabilities are among the latest in Accelerant’s growing portfolio of AI and machine learning products, including tools like portfolio-level risk monitoring, which helps identify unexpected variances across the $2.4bn premium on Accelerant’s Risk Exchange.
Another tool, an LLM-based claims assessment model, analyses raw claims event data, which in the past year alone increased Members’ recoveries by up to 300%.
The product aims to expand access to its proprietary digital tools, previously available only to Accelerant’s MGA (Managing General Agent) Members and internal teams.
Founded with a vision to reshape the insurance value chain, Accelerant provides an extensive digital ecosystem for specialty insurers through its Risk Exchange.
By leveraging advanced data pipelines and a comprehensive analytics platform, Accelerant supports underwriters in evaluating complex insurance data and maximising performance through improved risk analysis and decision-making capabilities.
Accelerant’s AI advancements underscore the company’s dedication to improving efficiency and transparency in risk management.
By integrating a data pipeline that processes over 1.2m insurance records monthly, the company aims to drive better decision-making for specialty underwriters, reducing loss ratios and fostering market-leading growth, which has averaged over 30% annually for Members.
Jeff Radke, CEO and co-founder of Accelerant, commented, “Since our founding, we’ve focused on the audacious vision of re-platforming the insurance value chain. The capabilities we’re announcing today represent a meaningful step forward for our industry—one that will perpetuate a virtuous cycle of better portfolio performance attracting more high-quality capital providers to Accelerant’s Risk Exchange. I’m incredibly proud of the years of hard work from our team to bring our digital and AI capabilities to life.”
Pete Horst, CTO of Accelerant, remarked, “We are changing the status quo by leveraging a proprietary data pipeline that ingests, processes, verifies, enhances and makes sense of over 1.2 million insurance records each month. This robust data infrastructure underpins Accelerant’s Risk Exchange business, surfacing insights that enable specialty underwriters to improve decision making, optimise their loss ratios, and achieve market-leading growth that to date has averaged an annual rate for our Members exceeding 30%.”
Matt Sternberg, COO of Accelerant’s Risk Exchange business, added, “AI has the potential to reshape every step of the insurance value chain – but before that can be achieved, we need to clean up and capture the messy, unreliable data that plagues the industry. Accelerant is doing exactly that, and these latest AI capabilities are just the next step in our vision to become the trusted and transparent marketplace where risk is exchanged.”
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