We have a long track record of supporting Managing General Agents (MGAs) in all aspects of business development, with many clients using our services for several years. Our clients have ranged from traditional MGA businesses to newer InsurTech entrants to the market.
Our support for MGAs broadly falls into these categories:
Insight consultants are experienced in assisting MGAs across all aspects of gaining capacity, from meetings with capacity providers to developing business plans. We have strong links to underwriting and actuarial teams across the market and understand the questions that might be asked having had experience assessing MGAs from the ‘other side’. This experience has left us ideally placed to help clients tailor their propositions for a successful outcome.
We are experts at developing pricing models across a wide range of classes. Insight has delivered on some challenging briefs, developing models for innovative London Market lines of business as well as well-known products such as motor and home. We have deployed robust, database-backed systems for our clients, with a focus on user experience and useful management information.
We also have considerable experience sourcing and integrating data for use in pricing models. For personal lines business, this has included procuring and seamlessly integrating open-source data as well as paid-for data such as aggregator or natural peril data.
Insight consultants have worked with underwriting teams to develop robust sets of underwriting guidelines and documentation. For example. we have assisted on quoting guidelines, policy wording, referral rules, decline criteria and minimum pricing.
We have supported clients beyond the attainment of capacity, working with underwriters on model updates or analysing emerging experience. We have expertise at cutting-edge data analysis techniques as well as a firm grounding in traditional actuarial methods.