Last Updated on 18. November 2024 by mgm-marketing
Insurers require risk- and billing-oriented functions for the automated processing of business with MGAs.
From the insurer’s point of view, business with MGAs makes sense if the insurer’s underwriting and portfolio management result in a cost advantage for the insurer that justifies additional remuneration for the MGA.
Therefore, the technology used by the insurer must be streamlined to process the following operations
- Risk assessment/underwriting and control
- Claims management
- Profitability evaluation of the accrued MGA portfolios
- Efficient processing of underwriting notes
- Mapping of (international) premium distribution
Thanks to the modular approach of mgm Cosmo, these functionalities can be provided without functional ballast. While classic insurer portfolio management requires the administration of risks at the coverage level, including downstream addendum processes, this is usually not necessary in business with MGAs.
More information can be found here.
