Thoughts From an Industry Icon
May 2022
What’s New
MGA Systems Blog
Our goal is to make your work life easier. Here we share our experiences with topics of interest in our industry.
Business
May 2022
Thoughts From an Industry Icon
Today the world is defined by the term ‘Information Age.’ All businesses, both large and small, require effective and efficient business communication solutions. They must have relevant and trusted methods for communicating their unique value proposition.
Technology
April 2022
Is DIY Insurance Software Right for You?
An emerging trend gaining traction in the insurance industry is the use of low-code/no-code development platforms to build applications for insurance businesses. While there are some distinctions between the two, for the purpose of this blog, low-code/no-code will be considered as one entity.
Cybersecurity
March 2022
Finding Cyber Coverage as Claims Explode
As a technology provider to the insurance industry, we learn from our clients who write cyber insurance policies. Along with the cost for cyber insurance trending upward, stricter underwriting requirements have come into play. In this blog we share ideas to save on cyber coverage and be better prepared against a cyberattack.
Business
February 2022
Integrating Disparate Products Together for Success
It is impossible to find a one-stop-shop for MGAs that supports all your automation needs for marketing your programs, quoting your business, handling accounting, generating invoices and commissions, monitoring claims and managing your vital documents. This means you are often required to have unrelated software applications work together seamlessly.
Business
January 2022
The 6 Benefits of Industry Associations
After a long COVID-19 hibernation, attending the TMPAA Summit, InsureTech Connect and WSIA Annual Marketplace meetings last year was especially energizing. There are numerous advantages to belonging to and being involved with an insurance industry association that add value to our industry.
Business
December 2021
A Brighter Year Ahead – 7 Predictions for 2022
Writing a blog with predictions for the future is about as risky as sky diving without a parachute. Who could have predicted that 2021 would still have multiple cities and countries across the world grappling with COVID-19?
Business
November 2021
Are You Ready for Insurance Management System (IMS)?
Introducing a policy administration system to your organization is meant to make your life easier and worry-free. You’ll soon enjoy a more streamlined process for end-to-end policy lifecycle management as you get products to market and start generating revenue.
Business
October 2021
American Specialty Relies on NetRate for Fast and Efficient Rating
We spoke with our client Drew Smith, who has 60 teammates in Fort Wayne, Indiana working in sales, accounting, IT, underwriting and claims. American Specialty was established in 1989, and then purchased by Brown & Brown (B&B) in 2005. Drew says that gives the company several advantages, including the ability to work with like-minded individuals and access to robust carrier partner relationships.
Cybersecurity
September 2021
Cybersecurity: Are Third-Party Vendors Increasing Your Risk?
Small to midsize businesses that handle financial data are particularly susceptible to cybersecurity breaches. As part of the insurance community, you most certainly have extensive measures in place to make sure customer data is secure in your organization.
Insurance
August 2021
Should Workers’ Compensation Cover Medical Marijuana?
The legalization of medical marijuana offers people another option for pain management, but how does its availability affect the workers’ compensation industry, both in the treatment of the injured workers and in workplace safety?
Business
July 2021
MGA Systems Leaders Give Insight on Future of Insurance Industry
Recently, we asked our CEO, Paul Areida, and our president, John Bennis, to share their views on current trends that will affect the future of the MGA niche of the industry.
Cybersecurity
June 2021
Ransomware Attacks: Where is the Weakest Link in Your Company?
Any business that deals with data – and the insurance industry handles a considerable amount – is ripe for attack by cyber criminals.
Business
April 2021
COVID-19 Reveals Preferred New Way to Work
Even with numbers of COVID declining, he remote worker in the insurance niche seems to be here to stay.
Business
March 2021
Ready to Expand Internationally? MGA Systems Makes It Easy
As Kofi Annan, the former United Nations Secretary General stated, “It has been said that arguing against globalization is like arguing against the laws of gravity.”
Insurance
January 2021
4 Signs It is Time to Find a New Policy Administration System
One thing successful MGAs and program administrators do to prepare for a surge in growth is evaluate their technology, so that systems and software hum along with the pace of new business.
Cybersecurity
December 2020
The Importance of Penetration Tests and Vulnerability Scans
In the age of heightened cyber security, one thing you can do to protect your organization is to have penetration tests and vulnerability assessments performed on your computer infrastructure, including servers, network and even applications.
Insurance
November 2020
Building a Powerful Rating Team
RPS (Formerly known as KDC Associates, LLC) is a multi-million dollar office of Risk Placement Services (RPSins.com). They operate like an MGA and have the ability to rate, quote, bind, issue and endorse policies. Focused mainly on general business, inland marine and auto, they now have a growing line of towing business. It currently accounts for about 50% of their business.
News
October 2020
Who’s Ready for CRIA?
In an article by the Lansing City Pulse released July 29, 2020 it was revealed that local Lansing, Michigan business "Soup Spoon Cafe,” which has a second branch in Williamston, lost a lawsuit in regard to a $650,000 interruption of business claim.
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MGA Systems builds insurance software appropriate for each of our clients’ budgets and goals. Our 30+ year insurance industry knowledge is key to our ability to offer the lowest total cost solution for insurance automation.
Latest Posts
Is DIY Insurance Software Right for You?
April 2022
Finding Cyber Coverage as Claims Explode
March 2022
Integrating Disparate Products Together for Success
February 2022
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Get In Touch
MGA Systems, Inc
New York Office
105 Maxess Road, Suite 202B
Melville, NY 11747
Michigan Office
3493 Woods Edge Dr., Suite 180
Okemos, MI 48864
(877) 790‑1114