MGAs
Insurer
Broker
Unlocking the Potential of Insurance Data APIs for Better Quoting
Application Programming Interfaces (APIs) are revolutionizing the insurance industry by enabling seamless data exchange and integration between systems. For insurers and MGAs looking to streamline their quoting processes and enhance customer experiences, leveraging insurance data APIs offers tremendous potential. This article explores how APIs are being utilized within insurance to improve quoting accuracy, efficiency, and […]
Strategies to Minimise Insurance Customer Acquisition Costs
Customer acquisition costs in the insurance industry are notoriously high, but there are several effective strategies that insurance professionals can employ to reduce these expenses. By implementing the following best practices, insurers can streamline their acquisition process and improve their bottom line. Leverage Digital Marketing and Automation One of the most effective ways to […]
Comprehensive Guide to Insurance Product Management Solutions
Insurance product management is a critical function that requires a deep understanding of industry-specific strategies, frameworks, and best practices. This guide explores key aspects of product management within the insurance sector, providing valuable insights for industry professionals seeking to enhance their skills and drive innovation. What is Insurance Product Management? Insurance product management involves […]
Customer Story: UKIS captured a niche market with Insly’s instant quote tools
UK Insurance Solutions Ltd (UKIS) was founded 24 years ago by Paul Galloway. Paul has been in the insurance industry for over 40 years and has a wealth of experience trading wholesale insurance with UK brokers. UKIS caters to a niche segment; Motor Trade Road Risks Only insurance. The cover is designed for motor traders […]
How to Reach Cost-Efficiency Through Claims Handling Software – Webinar
Claims settlements make up the lion’s share of an insurer’s costs. Every day in the UK, over £44 million is paid out to insurance customers for private property and motor insurance claims alone – a staggering sum of money. Therefore, insurance companies and MGAs must manage these outgoings properly. That is to say, firms need […]
RPA for Insurance: Streamlining Your MGA Workload
Robotic process automation (RPA) in insurance refers to using rules-based software to handle repetitive and sometimes error-prone admin tasks for human workers. Some commonly used automation in insurance capabilities include collecting customer details, copying information across multiple systems, and performing background checks. By leveraging RPA, MGAs have the power to transform processes to increase productivity, […]
Insly CEO, Risto Rossar on Reinventing software for MGAs
The insurtech scene is thriving, as an increasing number of investors are recognising the benefits of digitising insurance admin processes. To demonstrate, UK insurtech investment reached £262 million last year, a 60% uptick from 2019 figures. Meanwhile, European insurtech funding hit €2.5 billion in 2021 – an all-time high. As a result, software for MGAs […]
5 Questions with Insurance Influencers: Matthew Dover
We interviewed Matthew Dover, Head of Underwriting and Compliance at Renovation Underwriting. Matthew describes that the main value MGAs bring to the market is offering capacity providers expertise they may not possess in-house. This way, capacity providers are able to participate in profitable business lines without having to buy in the expertise. Technology definitely helps […]
5 Questions with Insurance Influencers: Richard Finan
We interviewed Richard Finan, the Director of Strategic Development at Arc Legal Group. Speaking of challenges that lie ahead, Richard says that underwriting capacity has been a big issue for many MGAs, particularly over the past two years as the market has hardened. Despite this, the specialist knowledge required to build and service niche solutions […]
5 Questions with Insurance Influencers: Scott Brown
This time, we had a chat with Scott Brown, Managing Director at Accelerate Underwriting Ltd™. When it comes to an MGA’s role in the insurance value chain, Scott emphasises that MGAs have expertise in niche business and access to distribution that Insurers currently don’t. Accelerate Underwriting have found using technology to be extremely effective as […]
