MGAM selects VIPR’s for multiple products
MGAM Ltd. is an independent underwriting agency providing outsourced underwriting services across books of specialist and regional insurance. MGAM aligns the interests of coverholders, Insurers and policyholders through a combination of its innovative approach and targeted products.
As an up-and-coming MGA in the dynamic London marketplace, MGAM’s powerful value to its customers is in a swift and efficient level of service. Seeking an IT partner that could work alongside it to build out its business, MGAM turned to VIPR’s proven track record and innovative suite of solutions.
VIPR’s combined offering enables MGAM to deliver its excellent service in a nimble way using a series of advanced IT solutions. As a start-up, with no legacy, MGAM was able to harness the fact that VIPR’s solutions are configurable. MGAM built processes, with efficiency and speed of service in mind, alongside VIPR’s Intarga solution, secure in the knowledge that those processes would work well.
The VIPR products enable the team at MGAM to meet their business goals. These solutions increase efficiency by eliminating duplication and the rekeying of data for bordereaux, coverholders and binders. MGAM says that without VIPR’s tech products it would take at least 20% longer to complete the onboarding process. Human error is drastically reduced, and senior colleagues can employ their knowledge and experience in more useful and meaningful ways for customers.
When MGAM is looking to bring on a new Insurer, the fully auditable workflows are a powerful way to demonstrate the onboarding process and transparency in due diligence. The fully auditable processes give confidence to new and established customers.
Intarga gives MGAM ‘one source of truth’ for an insurer’s delegated authority portfolio. It also allows for internal and regulatory reporting at the coverholder and binder level, empowering MGAM to draw upon layers of management information easily and swiftly whenever required, giving targeted, precise, and robust insights.
MGAM’s service to its customers has been greatly enhanced by the operational excellence Intarga has to offer as well as to enable integrated platforms giving consistent data throughout the life of a binder.
MGAM sees further potential with Intarga and plans to design additional subtasks to further enhance its customer service levels in the coming months.
Find out more about VIPR Intarga today.
As a start-up, with no legacy, we designed what we believed the optimal processes should be for our business. It’s fantastic that VIPR’s tech products are configurable – allowing us to adapt it to our own working processes. We knew that this would be a good relationship and that the processes would work. We wanted to avoid a scenario where we had three systems – a coverholder management system, bordereaux management system and an IBA platform from different providers; Integrating these three VIPR products enables us to be sure that our systems can work together seamlessly.”
The VIPR Intarga product is a business-critical system which MGAM uses EVERY day as part of our working week. We have systemised and configured our customer onboarding, due diligence processes into auditable workflows within Intarga. The process can then be managed by staff and frees up a lot of time for our senior colleagues to use their knowledge instead of spending time inputting data and documents into the platform. Having Intarga in place allows us to demonstrate and provide confidence to our insurers that our onboarding processes are fully compliant with our agreements.”