{"id":10459,"date":"2019-03-04T13:51:34","date_gmt":"2019-03-04T11:51:34","guid":{"rendered":"https:\/\/insly.com\/?p=10459"},"modified":"2023-08-18T13:41:21","modified_gmt":"2023-08-18T10:41:21","slug":"why-mgas-should-consider-it-consultants","status":"publish","type":"post","link":"https:\/\/insly.com\/en\/blog\/why-mgas-should-consider-it-consultants\/","title":{"rendered":"Why MGAs should consider IT consultants?"},"content":{"rendered":"
<\/div>

There are different reasons why insurers or MGAs look for new software solutions. The most common are related to the ability to deploy new functionalities quicker to the market or to renew and provide access to newer technologies that enable them to do more or to do things differently. Implementing new software is typically considered an expensive and time-consuming process and is normally set for a minimum period of 5 years.<\/strong> Introducing software more frequently is in most cases uneconomical and exhausting to a company’s resources.<\/span>\u00a0<\/span>
\nResource constraints make finding the right solution even more important. Currently, in the UK alone there are over\u00a0<\/span>about<\/span>\u00a04<\/span>3<\/span>\u00a0different insurance software providers\u00a0<\/span>known to us<\/span>\u00a0(read the article about MGA software providers<\/a>) each of them with their own focus, functionality restrictions and cost model. Unless you want to speak to all of them you will need a shortlist that matches your requirements the best<\/span>,<\/span>\u00a0so that you could make the choice between 3 or 5 but not\u00a0<\/span>from\u00a0<\/span>40.<\/span>\u00a0<\/span>
\nTo get to the shortlisting process, one should start by describing the functionality needs and following, it would make sense to use an unbiased\u00a0<\/span>insurtech<\/span>\u00a0specialized consultant to do the first wave of research to narrow down the target audience. The advantage of using a consultant compared to doing it yourself is the same as to using a broker to place your household or PI insurance. They know their area well and can save you time and money. Of<\/span>\u00a0<\/span>course<\/span>,<\/span>\u00a0there is no restriction to doing it yourself.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Choosing the right partner<\/span>\u00a0for the job<\/span>\u00a0<\/span><\/h2>\n

The first\u00a0<\/span>step in choosing the right partner is NOT choos<\/span>ing<\/span>\u00a0<\/span>the<\/span>\u00a0wrong partner. While this might be easier said than done, a couple of things to keep in mind:<\/span>\u00a0<\/span>
\nThe specialist you are hiring needs to\u00a0<\/strong><\/p>\n