Top List: MGA Software Providers in Canada
Last year, we published a list of (mostly UK-specific) MGA software houses that cater to the MGA business model
in some form or another (read here MGA Software Providers
). To our surprise, the feedback was extremely positive as it seems that MGA software providers are few and far between and not all providers say outright that their solutions work for MGAs, which sometimes makes them difficult to track down.
We’ve had the pleasure of speaking to many Canadian MGAs and market practitioners over the past 6 months and having done a tour of “the Great White North” recently, we decided to expand upon last year’s list by sharing our findings of the Canadian market. A couple of general observations:
Firstly, 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. The resulting list is also mixed functionality-wise, with some solutions focusing on distribution, some on claims, some on policy admin and some do a combination of everything.
Secondly, specialized solutions for commercial insurance rating do not seem to be readily available
If you run an MGA in Canada and are looking to digitize your business, here are some companies worth looking into:
List of MGA Software Providers in Canada 2018
Listed in alphabetical order
– a large and well-established insurance software house, headquartered in the US.
– a Toronto-based insurtech startup, focusing on product distribution via “quote and buy” functionality.
– Canadian company catering to brokers, insurers, and MGAs. Underwriter Workstation is the name of their MGA offering.
– a large and well-established software company, headquartered in the US.
– cloud-based productivity tools and mobile applications for claims management and other processes. Ontario-based.
– Insurevue is the name of their Salesforce-powered application, which is modified for the insurance market, including MGA use.
– a standardized system for Commercial Insurance brokers. Some features could potentially be used by MGAs.
– A UK company, Instanda focus is solely on product distribution, but based on what we have heard, does this very well.
– since 2015, we have been helping MGAs from the UK and other markets make their business more efficient and are now in Canada! Give us a shout and we’re happy to tell you all about our solutions.
Intelligent Broker Systems
– BC-based company. Various features on a platform that seems to integrate with existing Policy Management Systems
Insurance Systems Inc.
– a browser-based policy administration system with a specialized Marine Cargo solution separately available.
– Canada-based company related to US software giant Vertafore. Various specialised product suites available.
MGA Systems Inc
– an installed solution, with a seemingly wide choice of functionality .
– have a cloud-based end-to-end solution for P&C insurance as well as a specialized system for Marine Cargo.
– this local company provides a solution for issuing policy documents and bordereaux’s mainly directed at commercial lines brokers.
– another platform built on top of Salesforce, dedicated to commercial insurance management.
If you know of a company that deserves to be included here, but isn’t, please give us a shout and we will update this list on an ongoing basis.
If you missed our last year’s list of MGA providers from the UK and US, be sure to check it out here: MGA Software Providers