{"id":3172,"date":"2025-07-31T11:16:29","date_gmt":"2025-07-31T11:16:29","guid":{"rendered":"https:\/\/dev.opendesignsin.com\/insillion\/?p=3172"},"modified":"2025-10-30T11:36:52","modified_gmt":"2025-10-30T11:36:52","slug":"excess-surplus-mga-insurance-software","status":"publish","type":"post","link":"https:\/\/dev.opendesignsin.com\/insillion\/blog\/excess-surplus-mga-insurance-software","title":{"rendered":"How Insillion Pay-as-you-Grow MGA Insurance Software Supports Excess &#038; Surplus MGAs"},"content":{"rendered":"<div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1339.52px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\" data-scroll-devices=\"small-visibility,medium-visibility,large-visibility\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-1\"><p><span data-contrast=\"none\">The Excess & Surplus (E&S) insurance market continues to expand as demand grows for coverage that traditional insurers do not provide. E&S Managing General Agents (MGAs) play a crucial role in offering specialized policies to address complex and hard-to-place risks. Given the specialized nature of E&S lines, their success depends on adaptability, efficient distribution, and precise underwriting.<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<h2><b><span data-contrast=\"none\">Key Requirements for E&S MGAs<\/span><\/b><span data-ccp-props=\"\">\u00a0<\/span><\/h2>\n<p><span data-contrast=\"none\">E&S MGAs must excel in several areas to remain competitive:<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Agility<\/span><\/b><span data-contrast=\"none\"> \u2013 Continuous updates to products and regulatory compliance<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Distribution<\/span><\/b><span data-contrast=\"none\"> \u2013 Expanding distribution partnerships to grow customer base\u00a0<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"none\">Underwriting<\/span><\/b><span data-contrast=\"none\"> \u2013 Leveraging third-party and alternative data for pricing and complex underwriting<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"none\">For E&S MGAs to achieve their goal of speed to market, while maintaining their need for agility and custom underwriting, they need the right technology partner to achieve this. <\/span><span data-ccp-props=\"{\">\u00a0<\/span><\/p>\n<h2>Low-code insurance product builder<\/h2>\n<p><span data-contrast=\"none\">Many MGAs rely on Excel-based rating models. MGAs should be able to convert their actuarial and rater Excels into quote-to-bind portals and APIs, expediting product development while leveraging existing resources. <\/span><a href=\"https:\/\/dev.opendesignsin.com\/insillion\/products\/product-launch\"><span data-contrast=\"none\">Low code product builders<\/span><\/a><span data-contrast=\"none\"> like Insillion enable MGAs to launch rapidly by automatically generating user portals from Excel raters, and accelerate speed to market with rapid integration with partners for distribution channels such as agent portals, brokers.\u00a0<\/span><span data-ccp-props=\"{\">\u00a0<\/span><\/p>\n<h2>Excel-Based Rating<\/h2>\n<p><span data-contrast=\"none\">E&S market products are sensitive to frequent changes, instead of waiting on multiple days to implement changes in rules and rates, business and underwriting teams should be able to modify and update products by uploading revised Excel files or using low-code tools, enabling agility and market responsiveness to regulatory compliance.\u00a0<\/span><span data-ccp-props=\"{\">\u00a0<\/span><\/p>\n<h2>Distribution<\/h2>\n<p><span data-contrast=\"none\">Brokers operating in the E&S space often prefer working with underwriters or MGAs that provide quick turnaround times. Making it imperative for technology to enable <\/span><a href=\"https:\/\/dev.opendesignsin.com\/insillion\/blog\/digital-insurance-mga\"><span data-contrast=\"none\">speed in underwriting<\/span><\/a><span data-contrast=\"none\">.\u00a0To enable faster turnaround time, MGAs must replace manual processes such as rekeying submission data with automated workflows, ensuring that underwriters are focused on risk assessment and are able to provide quick turnaround to brokers.\u00a0<\/span><span data-ccp-props=\"{\">\u00a0<\/span><\/p>\n<h2>Underwriting Solutions<\/h2>\n<p><span data-contrast=\"none\">E&S MGAs have complex underwriting requirements and must configure underwriting rules independently to improve risk selection and assessment. <\/span><a href=\"https:\/\/dev.opendesignsin.com\/insillion\/products\/underwriting-suite\"><span data-contrast=\"none\">Insillion's underwriting workbench<\/span><\/a><span data-contrast=\"none\"> centralizes key functions into a single workspace:<\/span><span data-ccp-props=\"{\">\u00a0<\/span><\/p>\n<ul>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\"><a href=\"https:\/\/dev.opendesignsin.com\/insillion\/products\/workflows\">Submission automation<\/a><span data-contrast=\"none\"> \u2013 AI-powered tools accelerate submission processing.<\/span><span data-ccp-props=\"{\">\u00a0<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\">Underwriting workbench<span data-contrast=\"none\"> \u2013 A centralized workbench for evaluating risks and customizing policies.<\/span><span data-ccp-props=\"{\">\u00a0<\/span><\/li>\n<li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"6\" data-list-defn-props=\"{\" data-aria-posinset=\"1\" data-aria-level=\"1\">Third-party risk data integration<span data-contrast=\"none\"> \u2013 Integrates external data sources for enhanced risk assessment.<\/span><span data-ccp-props=\"{\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"none\">These features enable MGAs to prioritize preferred applications, enhance decision-making, and strengthen broker relationships by reducing turnaround times.<\/span><span data-ccp-props=\"{\">\u00a0<\/span><\/p>\n<h2>Pay-as-you-Grow Pricing for MGAs<\/h2>\n<p><a href=\"https:\/\/dev.opendesignsin.com\/insillion\/mga-pricing\"><span data-contrast=\"none\">Insillion's Pay-as-you-Grow MGA pricing<\/span><\/a><span data-contrast=\"none\"> model takes into account the <\/span><span data-contrast=\"none\">significant <\/span><span data-contrast=\"none\">resources required for setting up an MGA, such as regulatory compliance and staffing<\/span><span data-contrast=\"none\">. To eliminate high upfront costs and make it easier for MGAs to get started, Insillion offers a 180-day no commitment sandbox, allowing MGAs to build their products and experience Insillion's features before making any commitments.\u00a0<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<h2>Key Partnership for E&S MGAs<\/h2>\n<p><span data-contrast=\"none\">Insillion has partnered with Functional Finance a billing system provider to provide an end-to-end Policy Admin System for Excess & Surplus MGAs. This partnership brings together Insillion's low code features for underwriting and product development with Functional Finance's API-driven embedded solution to automates money flow and taxation. <\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"none\">Explore <\/span><\/b><a href=\"https:\/\/dev.opendesignsin.com\/insillion\/press-release\/insillion-functional-finance-es-mga-partnership\"><b><span data-contrast=\"none\">Insillion's Pay-as-you-Grow MGA Insurance Software and Functional Finance's Billing Systems<\/span><\/b><\/a><b><span data-contrast=\"none\"> for your E&S MGA.\u00a0<\/span><\/b><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Excess &#038; Surplus (E&#038;S) insurance market continues to expand as demand grows for coverage that traditional insurers do not provide. E&#038;S Managing General Agents (MGAs) play a crucial role in offering specialized policies to address complex and hard-to-place risks.<\/p>\n","protected":false},"author":1,"featured_media":776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[17],"tags":[25],"class_list":["post-3172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-debitis"],"acf":{"event_date":null,"author_name":"Insillion Team","author_image":{"ID":3134,"id":3134,"title":"","filename":"Favicon-2.png","filesize":7655,"url":"https:\/\/dev.opendesignsin.com\/insillion\/wp-content\/uploads\/2025\/07\/Favicon-2.png","link":"https:\/\/dev.opendesignsin.com\/insillion\/blog\/digital-insurance-mga\/attachment\/favicon-2-2","alt":"Insillion Favicon","author":"1","description":"","caption":"","name":"favicon-2-2","status":"inherit","uploaded_to":3170,"date":"2025-07-31 10:29:21","modified":"2025-10-24 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