6 July 2016 In the age of the ‘digital native’ and an era of intrusive regulation, discover how technology is pivotal to MGA’s success. Carriers are constantly searching for growth and new ways to diversify, so having access to talent who possess a niche ability to underwrite the most specialist of risks is very attractive. Even more enticing is the low-cost operating model and efficient distribution channels offered by MGAs. In a painful market for brokers and carriers alike, MGAs are in an enviable position. But for them to truly grow, their operational strategies need to evolve. A big piece of this is, of course, technology. MGAs need IT solutions that foster the enablement of new strategies and help them drive operational excellence, product innovation and customer service.

1. Technology is pivotal to a MGA’s success…
Whatever stage in life.
Phil Race, Chief Sales & Marketing Officer, Xuber

5. • The Regulation & Compliance Storm
• Changing Demographics
• Power from Data
• MGA Evolution

6. &

7. Welcome to Xuber
Does compliance
drive a need for
improved technology

8. You know this?
Growth
Phase
M&A
Investment
s
Regulation
Issues
Technology
Solutions
DECLINING RATES
EXCESS OF CAPITAL
MGAs OFFER LOW COST GO-TO-MARKET
CARRIER / BROKER CONSOLIDATION
PRODUCT & GEOGRAPHIC EXPANSION
PRIVATE EQUITY TO FUND ACQUSITIONS
INSURANCE ACT – AUGUST 2016
SOLVENCY II – PILLAR 3
REPORTING STANDARDS FOR CARRIER & MGA
REDUCED COST, IMPROVED REPORTING, SPEED TO MARKET
NEW TECHNOLOGY PLATFORMS
PARNERSHIPS BECOME REFERENCES

9. NEW
LAUNCHES
NEW
MODELS
ACQUISITION
S
INSURERS
VERTICALISIN
G

10. “The granularity & quantity of
information represents a
considerable challenge”
Capital Requirement
Governance & Supervision
Reporting
INITIATIVES
:
M&A
Restructuring

11. Fair presentation of clauses
between insurers and clients
IMPACT
Complex sub-coverholder agreements
Insurers may look to pass on credit risk
Increasing frequency of audits
Technology used to aid reporting requirements
Policies will be scrutinised by brokers

12. One touch data capture
Centralised administration and non-competitive services
Delegated authority initiatives
The impact on MGAs

13. Compliance is driving the need to manage:
 Disclosure
 Control
 Information sets
 Audit
 Responsibilities
Regulation is forcing the need to evidence:
 Document management
 Processes
And all with the aim of:
 Transparency
 Compliance
The Implications

14. Does client
demand drive
technology
improvements

15. The Panacea Pitch!
Perhaps?

16. Customers Top Priorities
Nothing has changed

17. But Everything Has Changed
30 : 1
79%
25%
Online vs
physical
Will use online
insurance
Real-time
personalised
pricing
70%
Healthcare
providers investing
in technology

18. The Consumer Journey
Requires digitally remastered applications

19. PWC Banana Skins Report 2015

20. One Approach

21. Consumers Have Found
Their Voice

22. A consumer expects to contact you anytime,
anywhere, any way…
…and for you to know who they are when they do

23. So what?
Conclusions
Expectations of
clients are exploding
Need to support
the drive for ‘Amazon
like’ service?
Paper, spreadsheet
& email isn’t
good enough!

24. Welcome to Xuber
Does the need for
better analysis drive
need for improved
technology
?

25. Big Data …But What’s the BIG Deal?

26. Data Mastery Spectrum Overview, 2012
Celent

27. Welcome to Xuber
Can technology
evolve with the
evolving MGA
?

28. The evolution of a MGA?

29. How can infrastructure / systems evolve?
• Availability of shared platforms
• Availability of new commercial models
• Availability of Software as a Service solutions
• Innovation from suppliers

30. It’s a journey

31. Make Sure…
Build for day 1
Protect agility
Cultivate flexibility
Avoid legacy

32. search: xubersocial
xuber.com