US-based insurtech firm Xceedance has launched the MGA Agility Suite, a brand new product designed to boost the digital capabilities of insurance coverage firms.
The suite targets programme directors, MGAs and MGUs.
It provides a variety of digital options geared toward bettering market presence, underwriting processes and operational efficiencies.
The MGA Agility Suite guarantees fast market entry and scalability, whereas decreasing possession prices.
It goals to digitise and strengthen end-to-end processes and rework information into actionable insights, supporting core operations.
The suite features a nationally licensed MGA for admitted and non-admitted markets.
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It additionally guarantees to supply assist throughout the insurance coverage life cycle, encompassing underwriting, coverage administration and claims administration.
The initiative is led by Xceedance senior vice-president and head of the MGA enterprise Michael Parcelli.
Parcelli has labored for round 4 a long time in underwriting, claims and expertise domains at MGA distribution channels, insurance coverage carriers and brokers.
Xceedance president of Americas Travis MacMillian stated: “Underneath Michael Parcelli’s seasoned management, this suite is about to redefine trade requirements, offering MGAs with an unparalleled platform that integrates cutting-edge expertise and data-driven insights.
“Our focus stays steadfast on enabling our purchasers to surpass their operational targets whereas sustaining agility within the dynamic insurance coverage panorama.”
MacMillian was promoted to the function of president of Americas in August 2023. Earlier than that, he held an govt management function at Xceedance for six years.
Parcelli added: “The MGA Agility Suite represents a pivotal development in how MGAs can leverage expertise to boost operational capabilities and market responsiveness. Our suite isn’t just a set of instruments; it’s a complete ecosystem designed to assist MGAs of their quest for effectivity, scalability and aggressive benefit.
“With a long time of expertise within the insurance coverage sector, I’ve witnessed the transformative energy of expertise and am excited to steer the deployment of this modern answer that addresses the nuanced wants of MGAs and MGUs.”
