MGA's Pros / Cons? Pet Peeves?

[lcalhoun]

What are some of the pros and cons of using an MGA? Any pet peeves that someone deals with on a daily basis? Also, how important is the mobile functionality of an MGA's website to independent agents?

Thanks.

 

[HoosierLife]

What are some of the pros and cons of using an MGA? Any pet peeves that someone deals with on a daily basis? Also, how important is the mobile functionality of an MGA's website to independent agents? Thanks.

Whatcha selling?

 

[lcalhoun]

Strictly commercial insurance. E&S

 

[agentinsouth]

What are some of the pros and cons of using an MGA? Any pet peeves that someone deals with on a daily basis? Also, how important is the mobile functionality of an MGA's website to independent agents? Thanks.

Umm... Why don't you just say you are an MGA wanting some info... ?RPS does a good job w/ their website and GREAT customer service. I can't stand Burns & Wilcox, service and hate App underwriters website.

 

[1reason]

I think Burns & Wilcox does a good job. I also don't think I'll send any more business to RPS. I've had too many issues with RPS, and there are many MGAs to choose from.

 

[indienoise]

An MGA is a step or two from being a carrier, and I expect them to invest in technology accordingly. Does your submission process consist of "email us acord forms"? Great. You'll get the leftovers that my go to outlets can't deliver on. If you don't have online submissions and even comparative rating for certain lines of business, then as an MGA you're not providing value.
Additionally, your underwriters need to be accessible. I'm taking business to MGAs that I don't have a direct market for and maybe don't know the market inside and out. If I can't pick up the phone and talk to an underwriter (not just get transferred to a mailbox and pray I don't get voicemail), or even have a dedicated underwriter who can get back to me promptly, then you as an MGA are not providing service. If I have to wait 24 hours for simpler quotes, or 72 hours for more complex ones, you're not providing adequate service.
Any large agency can act like a commercial lines market access provider. Dozens or even hundreds of them already do. Do more if you want to get my attention and business.
Also, mobile functionality is a non factor for me. Commercial submissions are more complex by nature and I don't expect to do them without mouse and keyboard.

 

[rbadoux]

Some MGAs are a pleasure to deal with. The only downside I've experienced was working with less-than-competent CSRs.

 

[STC1991]

An MGA is a step or two from being a carrier, and I expect them to invest in technology accordingly. Does your submission process consist of "email us acord forms"? Great. You'll get the leftovers that my go to outlets can't deliver on. If you don't have online submissions and even comparative rating for certain lines of business, then as an MGA you're not providing value.
Additionally, your underwriters need to be accessible. I'm taking business to MGAs that I don't have a direct market for and maybe don't know the market inside and out. If I can't pick up the phone and talk to an underwriter (not just get transferred to a mailbox and pray I don't get voicemail), or even have a dedicated underwriter who can get back to me promptly, then you as an MGA are not providing service. If I have to wait 24 hours for simpler quotes, or 72 hours for more complex ones, you're not providing adequate service.
Any large agency can act like a commercial lines market access provider. Dozens or even hundreds of them already do. Do more if you want to get my attention and business.
Also, mobile functionality is a non factor for me. Commercial submissions are more complex by nature and I don't expect to do them without mouse and keyboard.

Great reply - very helpful. Who are he preferred MGAs you choose to work with? From pat experience, who would you recommend for a brand new agency?

 

[indienoise]

Great reply - very helpful. Who are he preferred MGAs you choose to work with? From pat experience, who would you recommend for a brand new agency?

Depends on your location and target market. Figure out what kind of business you're looking for. Then find one mega mga and one regionally focused one. Treat them like you would regular carriers. You need a big name for wider appetites and better technology, but don't expect much in the way of responsiveness. The smaller regional will provide you with better underwriting relationships, more personal support, etc. Both types have their place.