Traditional insurers’ minimum premiums, small transactions and subsequent inability to absorb clients’ portfolio volatility leave MGAs vulnerable.
Accelerant provides insurance capacity, technology and investment for MGAs in property and casualty insurance.
Jeff Radke, Co-founder and CEO of Accelerant, speaks to Matthew about the role of Accelerant in championing the latest technology and supporting individuals. They cover the support MGAs get from being members of Accelerant and address the problems that specialty commercial underwriters face and how to tackle them. They also discuss how to handle a remote, global business in the age of working from home and the war for talent.
Talking points include:
- What MGAs should focus on when building capacity
- The benefits to MGAs of being a member of a company that has a large, diverse portfolio as opposed to a traditional, monolithic insurance company
- The growth potential of intermittent and embedded coverage
- The power of algorithmic underwriting and the prerequisites to make it work
- How different brokers are evolving and their willingness and ability to handle new technology
- The importance of energy, enthusiasm and experience in Accelerant’s business model
- Emerging threats of inflation and what pushing higher deductibles back to policyholders could mean for insurers
If you like what you’re hearing, please leave us a review on whichever platform you use or contact Matthew Grant on LinkedIn.
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Continuing Professional Development – Learning Objectives
InsTech London is accredited by The Chartered Insurance Institute (CII). By listening to an InsTech London podcast, or reading the accompanying transcript, you can claim up to 0.5 CPD hours towards the CII member CPD scheme.
The Learning Objectives for this podcast are:
- List the benefits a company with a diverse portfolio has over traditional insurers, and why these would be advantageous to MGAs
- Describe the ways in which technology is advancing traditional insurance processes (such as algorithmic underwriting)
- Summarise how insurers can prepare for the rising threats of inflation and the impact this will have on policyholders
Let us know you have listened to this podcast by emailing [email protected] and if your organisation is a member of InsTech London you will receive a quarterly summary of the CPD hours you have earned.
To help us measure the impact of the learning, we would be grateful if you would take a minute to complete a quick feedback survey.