As MGAs are a fairly new breed in the insurance sector it’s understandable that there is a limited number of “pure” MGA systems available in the market. Most of the platforms out there are modified broker platforms with a combination of added insurer functionalities to adapt them for MGA use.
Due to this fact they can also be somewhat difficult to find which is why we wanted to make it a little easier for everyone else.
During our time working with MGAs we have come across several software companies that cater to MGAs in some form or other.
So whether you are already trading as an MGA or just started your business, here is a list of MGA software providers worth turning to for your IT requirements.
List of MGA Software Providers in 2017
- Acturis – Being one of the largest insurance software providers, this UK based software house probably needs no introduction.
- Applied Systems – A quite big and well known insurance software house, headquartered in the US.
- Brokerquote – Based in Ireland, this cloud-based broker system also has MGA/wholesale capabilities.
- Buckhill – Their system can be used for full-policy lifecycle management or deployed in separate modules.
- GPM Development – We don’t know too much about this company other than their Eclipse labeled system is targeted to MGAs and can be deployed both on-premise and in the cloud.
- Ignite Systems – Ignite has a cloud-based MGA system.
- Instanda – Instanda is focused on MGA product distribution and based on what we’ve heard does this job very well (provided your products are simple).
- Insly – Over the past 2 years, we have worked with MGAs of various profiles from the UK as well as other markets and have gained a good understanding of the MGA model.
- Markit Systems – Headquartered in the UK, with offices also in South Africa, we don’t know much else about this company.
- Open GI – Another major player in the UK insurance software market, they have not left the MGA niche uncovered.
- Quotall – According to their website, their MGA solutions enable both B2B and B2C distribution.
- Riskfree – While not 100% insurance focused, this software provider also has something available for the MGA sector.
- Scheme Trader – We recently discovered that there is a software company in Liverpool that offers something to MGAs.
- Schemeserve – Known for their purple hats and friendly disposition, these guys also have an IT system for MGAs.
- Sequel Business Solutions – Located in UK and Spain, Sequel’s underwriting platform is also called Eclipse (seems like a popular name).
- SSP – Anyone in the UK broker market (or following related media) probably knows this well established software house.
- Total Objects – Belonging to the Xuber group (#21 on the list) Total Objects offers MGA specific solutions, but their website is rather conservative with the details.
- Transactor – Another major software house, headquartered in Winchester UK and development residing in Poland.
- VIPR Solutions – Rather than claiming to do all in one, VIPR has their MGA solutions organized into modular packages.
- Websure – Websure has solutions for various target groups including Brokers, Carriers, Captives, Risk Managers and MGAs.
- Xuber – Being one of the largest insurance software companies in the world means you can cover all the bases and that includes MGAs.
As you can see, this list mostly comprises of UK-based providers due to our own experiences with the market, but if you know any other companies that should be included here, please give us a shout and we will make sure to update this list periodically.