MGAs
Insurer
Broker
First Insurance and Lenders Launch an Income Protection Product with Insly
First Insurance Baltics and Lenders have launched an innovative income protection insurance product in Lithuania. An insurance product like this has never been available for Lithuanian customers before. To be able to launch income protection insurance quickly and smoothly, they needed insurance software that would be flexible, easy to use and integrate into both companies’ […]
How Insurers and MGAs Can Achieve Efficiency in Ecosystems
[vc_row css=”.vc_custom_1617260720938{padding-right: 10% !important;padding-left: 10% !important;}”][vc_column][vc_column_text] To participate successfully in ecosystems, insurers must often change the way they think about customers and give up industry borders. In fact, sectors like B2B services, mobility, travel and hospitality, health, and housing are expected to grow into ecosystems and add up to $60 trillion integrated network economy by […]
The Global Digitalisation of Insurance Industry Is Backed by Insurers and MGAs
[vc_row css=”.vc_custom_1615376917720{margin-bottom: 5% !important;}”][vc_column][vc_column_text css=”.vc_custom_1615335827004{padding-right: 10% !important;padding-left: 10% !important;}”] COVID-19 has had negative implications on capital availability among half of insurers and MGAs. This means tougher competition, struggling and a hardening marketplace, especially for those who don’t have enough funds or don’t add business value. How will COVID-19 impact capital availability? Source:Clyde&Co, 2020 Also, setting up a new […]
Are APIs in Insurance Essential for Insurers and MGAs?
Using APIs in Insurance Application Programming Interface (or API for short) essentially enables connecting various IT systems or applications and allowing them to use each other’s functionality. Using APIs in insurance can serve multiple purposes and business opportunities with the potential of bringing cost-efficiency and flexibility for selling and managing insurance products. Traditionally, IT infrastructure […]
New in Insly: MGA software
Over the course of last 18 month, we have been working together with the leading MGA-s from the London market to best accommodate their complex business processes on Insly software. Brick by brick, step by step, we have covered dozens of use cases with a range of new features. Today, we can present the outcome […]
Insly @ BIBA2017: A short report in pictures
Every year in May when the temperatures start to rise, grass turns a shade greener and the birds start coming out for a song or two the UK insurance community decides the timing is perfect to gather under the roof of the Manchester Central for the annual BIBA Conference. Deals are brokered, new contacts are […]
MGA Startup Story: How to Build a Successful Insurance Startup?
What defines a successful MGA entrepreneur? John Holm, Executive at MGA Investments at Asta Underwriting Management Ltd, says that perhaps the most important factor often cited for the ideal MGA startup entrepreneur is someone who is good at both insurance underwriting and insurance distribution, as well as having a good grasp of the numbers. However, […]
Customer Story: Signature Underwriting Launched an Online Fleet Insurance Trading Platform
“We chose to work with Insly because of their willingness to adjust the platform to our specific requirements that are essential for us in everyday business.” – Kelly Sims, Operations Development Manager at Signature Underwriting Signature Underwriting as a company Signature Underwriting is an MGA, providing insurance for commercial vehicles, primarily for taxis and couriers […]
7 Things to Consider when Implementing IT for MGA or Insurance Brokers
In today’s world, IT systems play a very important role in the success and sustainability of Managing General Agent (MGA) business. To outline the importance of that, consider the following quotes: “We estimate technology could reduce the combined ratio by as much as 21%” ~ Morgan Stanley and the Boston Consulting Group “During the past […]
Why is Lloyd’s losing out on Insurance Technology Innovation?
While the founder of Lloyd’s might be amazed by how far Lloyd’s of London has come in a little over 300 years, the insurance market is no longer the pioneer of the industry that it once was. It is now lagging behind in this age of constant insurance technology innovation. In the 1600s, Edward Lloyd made […]
