US-based insurance company Accelerant has launched a risk exchange platform for speciality underwriters.

Currently in beta, the Accelerant Risk Exchange platform is available to members including insurance companies, risk capital partners, and speciality underwriters.

The platform links speciality underwriters with a handpicked group of capacity providers.

It is designed to provide a variety of capabilities, including access to a wide range of risk capital sources, from institutional investors to insurance firms; allowing underwriters to access the capacity to write the risk of their choice.

The platform also leverages data to provide insights to help underwriters make informed decisions and offers tools to help underwriters manage their risks, enabling them to reduce risks and boost profitability.

Accelerant CEO and co-founder Jeff Radke said: “By enabling our members to access a number of different capacity providers along with Accelerant to best match the opportunity, our aim is that Accelerant Members never have to worry about capacity again.”

Accelerant Risk Exchange chief operating officer Matt Sternberg said: “The Risk Exchange gives us the ability to introduce additional capacity for our members, where every single Accelerant member still retains the long-term capacity guarantee from the appropriate Accelerant-owned insurance company. This is a remarkable paradigm shift for the industry.”

Separately, Bloomberg reported that Accelerant has raised $150m in a funding round led by Barings.

The funding valued the company at $2.4bn, up from $2.2bn following an investment last year.