Trilogy Serves UK SMEs in Need of Tailored Insurance Coverage with support from Risk Exchange

Summary Snapshot

The Big Picture

The UK insurance market, particularly in commercial lines, has seen a rising need for tailored coverage that addresses the unique risks of specific trades. As of 2022, 44% of SMEs in the UK don’t have any insurance and up to 40% could be underinsured. Brokers working with mid-sized businesses often encounter gaps in coverage from composite insurers, who may lack the specialization or agility required for niche commercial needs. This has led to a demand for underwriters who can offer responsive service, adaptable products, and precise risk assessment — especially as market conditions continue to fluctuate. Reliable communication and a nuanced understanding of local trades have become essential differentiators for underwriting agencies.

The Solution

Trilogy Underwriting addresses this gap with a multiclass product suite designed for over 500 trades, offering brokers bespoke solutions with quick, reliable responses. Through Accelerant’s Risk Exchange, Trilogy gained access to the technology, capital and other resources needed to underwrite larger, more complex risks with confidence. The collaboration also enables Trilogy to adapt their offerings more quickly through support in policy wording and product development. With Accelerant’s and Trilogy’s combined use of data, Trilogy can better analyze trade-specific trends to meet market needs with a high degree of service.

Read the full case study below.

Trilogy Underwriting, founded in London in 2013, connects insurers, brokers, and mid-range commercial clients to offer multiclass products in over 500 trades. Their goal is to provide a balanced commercial underwriting platform to a panel of brokers, offering them bespoke solutions that many composite Insurers struggle to provide.

“We understand what the risk is, we understand what’s required, and we understand the trades,” said Chris Blackwell, Managing Director at Trilogy Underwriting.

What sets Trilogy apart is their top-notch service and hands-on communication.

Paul Raymen, Senior Underwriter at Trilogy, reflected on the industry’s usual standards for responsiveness: “Oftentimes, when a broker reaches out, their message is seemingly sent into the ether, and no one takes ownership of the response.”

In contrast, Trilogy prioritizes quick turnaround, a personal touch, and regular check-ins with their brokers.

In 2021, Trilogy sought to replace their prior capacity and grow their book. When onboarding as an Accelerant Member, Trilogy was impressed by the seamless process. They found Accelerant’s proactivity and openness to new products refreshing. In the past, Trilogy would receive a blanket “no” if a proposed product didn’t fit criteria, but with Accelerant, they could collaborate on the building blocks that could make a product work.

“With previous partners, it could be difficult to revise our book because we rarely got to speak with the decision-makers. With Accelerant, we always do,” said Chris.

Accelerant offered invaluable help with wording specialized policies, getting Trilogy’s facility up and running, and bringing knowledgeable personnel. Now, Trilogy can take on bigger risks than they had been able to before, confident that they not only have the capacity for it, but that they also have Accelerant’s support to make it work.

One of the trends Trilogy is paying close attention to is data collection. They’ve implemented robust data collection and reporting mechanisms to monitor trends, allowing them to anticipate changes and decide where to allocate their resources to optimize  success.

“Accelerant is very data-driven — as they should be,” said Paul. “The rest of the insurance industry hasn’t caught up to the importance of data collection the way Accelerant has.”

As the marketplace fluctuates and rates soften, Trilogy continues to find the angles that spur growth. Their service levels and reliable communication sets them apart even as the competition stiffens, and their tailor-made solutions enable them to succeed in specialized trades.

“The insured, the insurer, and the broker are a trilogy – all three need to be happy. This dedication is part of our namesake, and what we’re good at can’t be replicated,” Chris said.

During these changing market conditions, Trilogy is identifying the trades that are most promising for future success and will buckle down on specializing in a few. They’re diligently keeping pace with the changes and advise other Members to do the same.

“Few know the UK market as well as we do,” Chris said. “We can, to a granular level, speak to specific towns, regions, trades… We’re happy to share our expertise with fellow Members and explore where our models overlap.”