Vertafore and MGA Systems Acquisition: Frequently Asked Questions

As North America's InsurTech leader for more than 50 years, Vertafore is modernizing and simplifying the insurance life cycle so that our customers can focus on what matters most. Vertafore's solutions provide end-to-end connectivity across the distribution channel, improve the client and agent experience, unlock the power of data, and streamline essential workflows to drive efficiency, productivity, and profitability for independent agencies, MGAs and carriers.

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MGA Systems is a software development company working exclusively in the insurance industry. The company's management team has more than 30 years of real-world brokerage and MGA experience, which is reflected in the design of its flagship product, the Insurance Management System (IMS). The team at MGA Systems consists of highly skilled, Microsoft-certified developers working with the latest tools and technologies. The combination of top developers working directly with experienced insurance industry professionals results in the company's leading-edge IMS product.

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The transaction closed on June 27, 2022.

MGA Systems is a leading provider of purpose-built software for MGAs in the insurance industry. They have been at the forefront of the industry's work in this area for over 20 years.

Their solutions, IMS and NetRate, have allowed customers of MGA Systems to experience accelerated product time to market, with support and expertise that integrates deep knowledge of the industry and the underlying technology.

Like MGA Systems, Vertafore remains dedicated to expanding the customization and open architecture strategy that has made MGA Systems' software critical to the success of their customers.

And most importantly, the people, passion, and expertise that the MGA Systems' team brings are a perfect fit for Vertafore's vision, purpose, and talented team. We're excited to start working together!

Vertafore acquiring MGA Systems aligns with its strategy to simplify and automate the insurance distribution channel. With its open architecture, Vertafore has long been committed to providing flexibility for all customers to access the right tech stack for their business. By combining MGA Systems with Vertafore's existing, market leading management system for MGAs (AIM), Vertafore now offers the most comprehensive suite of technology for MGAs in the market.

Vertafore will invest in and continue to develop the solutions that MGA Systems provides today, including an integration between AIM and NetRate. They will build off this foundation and work to establish a consistent, coordinated presence in the marketplace around our combined products and brands.

Additional product and technology integration strategies between Vertafore and MGA Systems will begin to be defined as our teams come together through this acquisition.

The acquisition of MGA Systems provides customers access to policy administration and rating solutions that will be integrated into Vertafore's solutions. This strengthens Vertafore's already robust suite of solutions for MGAs, ensuring they are able to expand into new territories and develop products for their clients that address unexpected market challenges.

The MGA market has seen consistent growth over the last several years, continuing to expand in the face of headwinds and disruptions across the broader economy with further room for growth. The combination between Vertafore and MGA Systems will allow for accelerated investment and innovation in both companies' solutions to address the evolving needs of insurance professionals.

There are no impacts on products and services, billing, ongoing implementation, contacts, or contact methods.

All product integrations will not be impacted.

There are no changes in pricing or contracts for existing customers.

Any future operational or business changes will be communicated to customers.

All integrations will remain accessible, and no changes will be experienced.

Vertafore will continue to support all MGA Systems partner relationships.

You may reach out to your account team for any further questions.

Future developments will be shared on Vertafore.com, on Vertafore's social networks, through various other marketing channels, and through direct communications with our customers.

Future developments will be shared on Vertafore.com, on Vertafore's social networks, through various other marketing channels, and through direct communications with our customers.