What does it take to fundamentally rethink how specialty insurance is traded, structured and scaled? In this episode, Robin Merttens is joined by Jeff Radke, co-founder and CEO of Accelerant, for a deep dive into the mechanics of a rapidly growing risk exchange that’s quietly reshaping the MGA and MGU landscape. It has been three years since Jeff joined us on the InsTech podcast, and even Accelerant has radically evolved as a business. This isn’t, however, just another technology story. Jeff shares frank insights on building trust in a data-driven ecosystem, how Accelerant has used AI to make tangible portfolio improvements and why he believes platform-based risk trading will become the dominant model for specialty lines. Unlike many other discussions about AI in insurance, this episode focuses on what’s already working – from subrogation improvements to portfolio optimisation. There’s also a broader message here: about stepping back to see how much the market has changed and why the next evolution may already be underway… Key Talking Points Building a global risk exchange – how Accelerant connects specialty MGAs and MGUs with capacity through a single, scalable platform The value of long-term partnerships – why Accelerant provides five-year capacity commitments and expects transparency in return From niche to global – supporting 200+ underwriting teams across 20 countries and over 225 specialty products Applying AI where it matters – reducing loss ratios and boosting subrogation with machine learning and large language models Cost leadership in a softening market – why expense ratio advantage trumps rate cycles in SME and specialty risks Looking ahead – how AI is reshaping roles, workflows and the entire insurance value chain The rise of risk exchanges – why specialty insurance is following the same path as bonds, mortgages and equities Staying ahead – why Accelerant is focused on evolution, not just competition If you like what you’re hearing, please leave us a review on whichever platform you use or contact Robin Merttens on LinkedIn. You can also contact Jeff Radke on LinkedIn to start a conversation! Sign up to the InsTech newsletter for a fresh view on the world every Wednesday morning. Continuing Professional Development This InsTech Podcast Episode is accredited by the Chartered Insurance Institute (CII). By listening, you can claim up to 0.5 hours towards your CPD scheme. By the end of this podcast, you should be able to meet the following Learning Objectives: Describe how a modern risk exchange connects specialty underwriters with capital providers. Identify the signs of systemic evolution in the insurance industry that indicate a shift toward platform-based models. Define the concept of a two-sided risk exchange and its advantages over traditional capacity models. If your organisation is a member of InsTech and you would like to receive a quarterly summary of the CPD hours you have earned, visit the Episode 348 page of the InsTech website or email cpd@instech.co to let us know you have listened to this podcast. 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.