Accelerant

Accelerant offers a full-service risk exchange to a network of managing general agents (MGAs) and program administrators (PAs). The company offers its services through a data driven digital platform–InSightFull, which collates data throughout the insurance value chain to provide intelligence tools and insights on claims statistics, loss information, premium flow and losses, and other statistical data for underwriters to understand and write better risks. The platform also matches its underwriters with sources of risk capital to take underwriting risks. The company does not underwrite risks directly; rather, through its network of MGAs and PAs focusing on property and casualty insurance to SMEs.

Accelerant also has a reinsurance business based in Bermuda that recorded a gross written premium of USD 500 million in 2021. The company had more than 150 employees as of February 2022 and had plans to hire at least 50 more in 2022, particularly engineers and data scientists.

Funding and financials

In January 2022, Accelerant raised USD 190 million at a USD 2 billion pre-money valuation led by Eldridge. Its major investor Altamont Capital Partners also participated in the round. The funds raised were to be used to meet its required regulatory capital and fund business growth.