Tag: MGAs

Top 10 most innovative MGAs in Canada

Canada’s MGA sector is growing fast, as customers seek targeted and niche cover to protect them from evolving risks. There are now more than 80 MGAs across the country, and in commercial lines, they make up around 10% of gross written premium. Plus, there is still huge potential for innovation and growth, with predictions that […]

Rating Engines – Threat to Human Underwriters or the Ultimate Underwriting Aid?

Rating is a core success factor for insurers and MGAs, impacting directly their performance and business results. Rating can be done manually, using multiple spreadsheets and systems for data storing and calculations. This is laborious, error-prone, and extremely time-consuming. Insurers and MGAs can choose an alternative and use rating engines for efficient automated underwriting. Rating […]

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 […]

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 […]