March 5, 2021
Insurity’s software enables MGAs to use a single user interface, enter data one time into only one system and automatically integrates it across rating, proposal, policy, and reporting systems.
MGAs are empowered to quickly introduce new products to the market across diverse risks such as cyber, drones, co-working, gig-economy, and climate change, among others.
Hartford, CT – March 5, 2021 – Insurity, a leading provider of cloud-based software for insurance carriers, brokers, syndicates, and MGAs has created the market’s only one-stop shop approach to technology for MGAs. Currently working with five of the top 10 US-based MGAs, Insurity’s proven solutions cover all core business needs for MGAs, program administrators, and Lloyd’s coverholders.
Traditionally, MGAs have had to depend on fragmented technology solutions with few digital capabilities. This has led to operational issues for MGAs resulting in costly errors, missed opportunities, and fractured relationships with retailers and carriers.
With Insurity’s cloud-based MGA solutions, customers can now satisfy all technology and core business needs with one trusted partner. In Insurity’s software, MGAs use a single user interface, enter data one time, into only one system, and it automatically integrates across multiple functional areas including rating, proposal generation, policy issuance, and reporting functions. This allows MGAs to trade in real-time for faster, more accurate quotes and transactions. As a result, customers are seeing improved productivity by up to 30 percent.
Most MGAs operate in highly competitive and constantly evolving markets. An integrated software suite that covers all aspects of rating, policy administration, claims, billing, and digital applications, empowers MGAs to quickly take advantage of emerging risks and bring new products to the market, across diverse areas, such as cyber, drones, co-working, gig-economy, and climate change, among others.
“For too long MGAs have felt stuck with legacy technology solutions. It’s easy to get started with Insurity’s MGA software because our team specializes in understanding an MGA’s business needs and building a deployment plan that is simple, easy, and quick,” said Jake Hampton, SVP, MGA Markets at Insurity. “Our platform is designed to be configured for any MGA’s unique workflows, with permission levels and business rules. Both rating calculations and business rules may be applied so that multiple workflows including straight through processing and referrals can be supported. Then, policy issuance is dynamically created with data mapped from the rating and proposal generation functions. All this enables our MGA customers to respond faster, improve productivity, and build great relationships with carriers and retailers.”
“Insurity is the only provider that has a one-stop shop for all the core business needs of MGAs. Our software is flexible enough to manage both upstream and downstream businesses across commercial, personal, and specialty lines,” said Kevin Grimes, SVP and General Manager for MGA solutions at Insurity. “We provide a cost-effective way to quickly deploy any MGAs’ programs that ultimately helps to reduce the workload of underwriters.”
To learn more about Insurity’s MGA solutions please reach out to Laura.Krause@Insurity.com
Insurity is a leading provider of cloud-based systems for insurance carriers, brokers, and MGAs. Through its best-in-class digital platform and with unrivaled industry experience and thought leadership, Insurity is uniquely positioned to deliver exceptional value, empowering customers to focus on their core businesses, optimize their operations, and provide superior policyholder experiences. With users worldwide and more cloud-based deployments than any other core system provider in the insurtech space, Insurity is trusted by 15 of the top 25 property and casualty carriers in the US. For more