By: Accelerant | September 2024
Accelerant is a ReInsurance company that specializes in data-driven risk exchange,
connecting specialty underwriters with risk capital.
Accelerant’s mission is to re-platform the insurance industry — so that it works better, for everyone. And as Accelerant enters Puerto Rico, it is poised to make an even more transformative impact on the global reinsurance landscape in partnership with its new domicile. This move not only signifies Accelerant’s commitment to expanding its global footprint but also underscores its vision to reshape the insurance industry through cutting-edge technology and analytics, forward thinking domiciles and robust sources of capacity, and a Member-focused strategy.
THE ACCELERANT VISION: TECHNOLOGY-DRIVEN GROWTH FOR MGAS
Accelerant is a data-driven risk exchange, which connects specialty underwriters with risk capital providers and improves transparency across the ecosystem. In today’s rapidly evolving environment, traditional approaches to insurance no longer suffice. The efficient exchange of risk is a cornerstone of our global economy. That’s where Accelerant’s approach is so novel.
At the core of Accelerant’s strategy is its focus on aligning incentives across the insurance value chain. Better data and insights, along with stable capacity commitments, empower Managing General Agents (MGAs) to see market leading growth with tailored solutions for their niche markets. That helps drive a virtuous cycle — better portfolio performance in turn attracts more high-quality capital providers, which continues to drive healthy growth.
A NEW ERA OF CAPITAL STABILITY
One of the key innovations Accelerant brings to the table is its long-term capacity commitments thanks to its ecosystem of risk capital partners. Unlike the traditional reinsurance market, which can be volatile and unpredictable, Accelerant offers its Members five-year capacity agreements. This stability allows MGAs to plan for the future with confidence, knowing that they have the backing of a robust and reliable capital providers.
ACCELERANT RE IS TRANSFORMING REINSURANCE, USING TECHNOLOGY AND STABLE CAPITAL TO MAKE P.R. A GLOBAL INSURANCE HUB.
What drives this stability? Accelerant’s approach to risk capital is built on the concept of a diversified, low-volatility risk portfolio. By pooling risks through its risk exchange, the company ensures that its members benefit from a stable and efficient capital supply. This strategy not only protects MGAs from market fluctuations but also enhances their ability to deliver consistent value to their clients.
ENTERING PUERTO RICO: A STRATEGIC EXPANSION
Accelerant’s entry into Puerto Rico is a strategic move based on our belief that the island is growing in prominence as a hub for international insurance. Puerto Rico’s International Insurance Center offers unique advantages for (re)insurers, including a well-established and broadly respected regulatory framework. By establishing operations in Puerto Rico, Accelerant is positioning itself to tap into new markets while providing MGAs with access to global capacity.
JEFF RADKE: THE CONNECTOR IN INSURANCE
Leading Accelerant is CEO Jeff Radke, a visionary known for his commitment to innovation and his drive to empower employees as experts. Under his leadership, Accelerant has rapidly grown into a global powerhouse, with a presence in Europe, Canada, UK, the continental United States, and now Puerto Rico. Radke’s philosophy is simple yet profound: enable people to focus on what they do best by providing them with the tools, technology, and support they need to succeed. It’s a philosophy that he is about for specialty underwriters, risk capital providers, and Accelerant’s team. Radke’s leadership has been instrumental in fostering a culture of transparency and collaboration at Accelerant. This is reflected in the company’s high Net Promoter Score (NPS) of 90.
A TRANSFORMATIVE FUTURE FOR REINSURANCE
Accelerant Re’s entry into Puerto Rico marks the beginning of a new chapter in the global reinsurance industry. Accelerant is even set to redefine what it means to be an insurer or a reinsurer in the modern world by realigning incentives and increasing transparency.
ACCELERANT’S COMMITMENT TO PUERTO RICO
Accelerant’s strategic entry into Puerto Rico is further highlighted by its recent membership in the Puerto Rico International Insurers Association (PRIIA). Accelerant is dedicated to helping Puerto Rico excel as a leading jurisdiction in the international insurance market. By actively participating in PRIIA, Accelerant is positioned to influence key developments within the industry, advocating for best practices and supporting initiatives that create opportunity for all Puerto Ricans, enhance the regulatory framework and business environment in Puerto Rico.
In line with its long-term vision, Accelerant is also investing in the local workforce. The company is building their local team, with the intention of having a full management team in place by 2025. This initiative not only reflects Accelerant’s commitment to the Puerto Rican market but also its belief in the island’s potential as a hub for global insurance operations.
For more information about this article feel free to contact Meliza Matos at
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