MGAM’s strength lies in its investment in technology, its culture and insurer relationships. All are designed to provide solutions for Coverholders seeking market leading systems and secure, stable capacity.
By virtue of the investment in the IT systems MGAM is able to provide analysis of loss ratio by product and trade level for all years of accounts. Many carriers cannot study their data to the level MGAM provides.
This coupled with our strong market relationships enable MGAM to attract support from strong, secure insurers who recognise the value of a “best of both” approach.
Here are some examples of how MGAM recognises that data remains king and will continue to do so. Investment in IT is without doubt the way to future proof carrier relationships.
MGAM was approached to provide a white labelled solution for the EL / PL / CAR and Employee Tools to the UK market leader in domestic boilers. We built the online Quote & Bind system in six weeks. The product includes full quote, bind, policy issuance and payment capability.
When asked to deliver an hourly PL policy for food delivery couriers, MGAM provided underwriters with a full analysis of the UK cycle stats, including all government recorded bike accidents to establish that most food delivery is done outside of peak rush hour accident times. As we were able to demonstrate that the actual risk is far lower than the perceived risk, we were able to secure a home for the scheme with an A rated carrier.
By using our advanced MI capabilities, MGAM has been able identify the trends leading to poor performance on a distressed book of business, reengineer it and secure A rated capacity support.
We have also been able to use our superior analytics to help a previously unrated offshore carrier transition into a UK based MGA with A rated security.
“First class service from a first class team.”
Graham Norgate, Director, Bennett Gould & Partners Ltd.