In designing the Ignite MGA system we wanted to take the best parts of Ignite Broker and re-model them for MGAs. The policy data we were storing would remain the same, but beyond that there are some crucial differences: instead of generating EDI for brokers, we would be receiving it; instead of receiving quote information and rating it for aggregators, we would be re-rating the risk received to be sure it matched with the declared premium; and instead of reporting on sales and staff performance, we would report on broker performance and loss ratios.
Many of the powerful features of Ignite Broker are also of use to MGAs: the document creation suite, automated workflows, and pricing tools remained largely unchanged.
With talented staff at major insurers growing frustrated with the slow pace of their companies, the dream of setting up an MGA is becoming an increasingly viable reality. Plenty have now done it and succeeded. And Ignite MGA is there to help.
A major challenge for MGAs can be distribution through the right brokers. The barrier to working with preferred brokers is often systems-related.
Ignite has extensive experience of EDI messaging and can generate or receive EDI messages. This connectivity gives access for MGAs to most UK brokers, and allows seamless data transfers.
For those brokers without EDI facilities, or where it is not appropriate, Ignite MGA offers a web-portal where brokers, no matter what their back office system, can raise new business, MTA, cancel and renew. Their documents and diary are stored in one secure online area. New broker users can be set up in less than a day.
At Ignite we believe good MI is critical to the success of an MGA. This is why we have developed a suite of more than 40 reports that can be editing and filtered by business users. From triangulation reports to basic policy upload reports, Ignite MGA has it all.
MID submissions are a crucial part of any motor MGA. Ignite has the capability to submit to MID and provide live management reports on the success rate of these submissions so that your MGA always remains compliant.
Powerful MGAs rely on a network of resources to give them the edge. This is why Ignite is available to integrate with any data enhancement business. As standard Ignite is integrated with claims management, Experian credit checking, ID checking, address checking, vehicle checking, and fraud checking systems.
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To arrange a no-obligation demo of Ignite's system capabilities please fill in the form below, or give us a call on 0161 834 1235