US-based insurtech company Xceedance has launched the MGA Agility Suite, a new product designed to enhance the digital capabilities of insurance companies.
The suite targets programme administrators, MGAs and MGUs.
It offers a range of digital solutions aimed at improving market presence, underwriting processes and operational efficiencies.
The MGA Agility Suite promises quick market entry and scalability, while reducing ownership costs.
It aims to digitise and strengthen end-to-end processes and transform data into actionable insights, supporting core operations.
The suite includes a nationally licensed MGA for admitted and non-admitted markets.
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It also promises to offer support across the insurance life cycle, encompassing underwriting, policy administration and claims management.
The initiative is led by Xceedance senior vice-president and head of the MGA business Michael Parcelli.
Parcelli has worked for around four decades in underwriting, claims and technology domains at MGA distribution channels, insurance carriers and brokers.
Xceedance president of Americas Travis MacMillian said: “Under Michael Parcelli’s seasoned leadership, this suite is set to redefine industry standards, providing MGAs with an unparalleled platform that integrates cutting-edge technology and data-driven insights.
“Our focus remains steadfast on enabling our clients to surpass their operational goals while maintaining agility in the dynamic insurance landscape.”
MacMillian was promoted to the role of president of Americas in August 2023. Before that, he held an executive leadership role at Xceedance for six years.
Parcelli added: “The MGA Agility Suite represents a pivotal advancement in how MGAs can leverage technology to enhance operational capabilities and market responsiveness. Our suite is not just a set of tools; it is a comprehensive ecosystem designed to support MGAs in their quest for efficiency, scalability and competitive advantage.
“With decades of experience in the insurance sector, I have witnessed the transformative power of technology and am excited to lead the deployment of this innovative solution that addresses the nuanced needs of MGAs and MGUs.”