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May 7, 2019updated 09 May 2019 7:03am

Xceedance introduces MGA Agility Suite for insurance carriers

Xceedance, a provider of insurance consulting and technology, has introduced its new software and services offering, known as MGA Agility Suite.

The new platform clubs Xceedance’s policy-administration capabilities, an underwriting platform, as well as distribution and communication tools.

Established and startup programme administrators, MGAs, and MGUs can leverage the new solution to implement a bespoke, advisor-driven sales and service engine.

Xceedance chief business officer Travis MacMillian said: “The Xceedance MGA Agility Suite provides software and associated services to support MGAs in insurance markets worldwide.

“MGA operations typically rely on software or platforms intended for primary insurers. In contrast, the dedicated MGA Agility Suite comprises an insurtech platform, coupled with lifecycle services for program administrators, MGAs, and MGUs.”

It has been designed to support regulatory compliance and collaborations with organisations including actuaries and third-party administrators (TPAs).

The platform, which can be hosted on the cloud, also facilitates integration with insurance data providers, general ledger applications, payment gateways, and document generation services.

The new platform has been deployed by Archipelago Risk Services, a London-based managing general agent (MGA).

Archipelago will leverage MGA Agility Suite to enable users to buy motor, home, investment property, travel, and pet insurance through intermediaries via a single platform.

Archipelago Risk Services managing director Richard Coleman said: “The Xceedance MGA Agility Suite empowers us with highly-automated workflows and a streamlined policy lifecycle — boosting organizational efficiency, enhancing the policy buying experience, and lowering operating costs.”

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