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January 13, 2022

Insurtech platform Accelerant raises $190m in funding

Data-powered insurtech platform Accelerant has raised more than $190m in a funding round at a pre-money valuation of $2bn.

Eldridge led the round, which was joined by Deer Park, Marshall Wace, MS&AD Ventures and existing investor Altamont Capital Partners.

Accelerant’s InSightFull data platform helps its clients gain a better understanding of risks, use insights and manage operational and regulatory complexity.

Eldridge co-founder and CEO Todd Boehly said: “The Accelerant team understands the challenges that MGUs and PAs face with conventional carriers, and they have built an offering to address those needs.

“With cutting-edge data and analytic capabilities, Accelerant’s platform eliminates bureaucracy to offer an experience that prioritizes velocity and collaboration.”

It plans to use the proceeds to improve the way that underwriters share and exchange risks.

The insurtech stated that it works with its members, who are a select network of managing general underwriters (MGU) and programme administrators (PA) to drive growth, with focus on small and medium-sized businesses.

Accelerant CEO and co-founder Jeff Radke said: “At Accelerant our approach is pretty simple — which is maybe what makes it a little radical: We’re bringing transparency, data, and shared incentives back into the equation, serving MGUs as important partners in the insurance ecosystem, and overall making it easier and more efficient to exchange risk.

“We look forward to working with new partners to apply our differentiated approach and technology to lines of insurance beyond SME within which we can have an equally significant impact.”

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