Spot On Insurance Welcomes Jeff Radke

The insurance industry has a reputation for being a late adopters of new technologies.?When the first insurtechs emerged in the 2010s, opinions ranged from It’s a fad.?What do techies know about insurance? to This is going to totally disrupt the industry.?It’s the end of the insurance agent!?Jeff Radke joins us to review the insurtech (r)evolution and speculate on its future.

Jeff is the co-founder and CEO of Accelerant, an insurtech that empowers MGAs and MGUs to serve small- and medium-sized businesses with confidence and greater efficiency.?During his more than two decades in the industry, he led teams at companies such as Argo Group International Holdings and Guy Carpenter.?He has focused on multiple aspects of the insurance value chain, from underwriting to reinsurance.

In creating Accelerant, Jeff and his co-founders wanted to bring together insurance professionals with niche expertise and an ownership mentality, innovative technology, and a vibrant data flow.?This approach, they believed, could succeed while incumbent insurers remained inertia bound.?The company practices what Jeff calls “aggressive transparency.”?The emphasis is on quantifying the accuracy of the available data.?Understanding the validity of their data set helps underwriters avoid the need for conservative estimates.?That means lower costs for the ultimate policyholder.?Jeff contrasts this approach with that of many first-generation insurtechs who focused on gaining market share with little consideration for the sustainability of their pricing models. At Accelerant, the goal is to empower its members to make good underwriting decisions quickly.

To connect with Jeff Radke directly:

→ LinkedIn: Jeff Radke, Accelerant

→ Website: accelins.com

For more great insights from Jeff listen to his Spot On Insurance podcast, The Insurtech Revolution: DOA or Just Getting Started?, which debuts on Tuesday, August 16.