What this means for the independent insurance channel
Vertafore is privileged to work with 88% of the top MGAs in some form. Our significant market share with agencies and carriers puts us in the unique position to really support MGAs as the intermediary to better optimize the distribution channel for these products.
Carriers can be excited about a proven platform to help MGAs work with them to take new products to market, distribute them and provide agents with access to these specialized markets.
And Vertafore is also helping MGAs to work better with agencies—from getting submissions in, to making underwriting a more seamless process. All of the things we’re putting in place to support MGAs equal the ability to deliver more innovation faster, and ultimately deliver a better experience for the end-insured client.
This past year has been a tremendous success. The tech that MGA Systems brought to the table was a key component. But what’s most exciting is the human element. Not only is the team great to work with, but the deep industry experience they bring has fueled faster growth than we even anticipated. We are investing significantly in these products and there will be many exciting product updates to announce in the near future.
There’s familiar alignment between our MGA customers and Vertafore’s own product development mission of constantly solving for how to best create new products and make them accessible. That’s what makes our MGA customers so inspiring to work with. We’re moving quickly to meet our customers' needs in this fun, fast-paced environment.