Doing Business with MGAs

[rbadoux]

There are many reasons to do business with MGAs. This includes fast turn-around time, low rates, high commission, market interest, etc.

I would like to know, out of all these reasons, what is your top priority reason to get appointed with an MGA?

 

[indienoise]

This term gets thrown around really loosely, it seems. Maybe because there are quite a few ways one can be run. Are we talking about a wholesale e&s firm? A program manager for a single carrier? Something else entirely?

Is this post even made by a real person? It reads kind of like one of those spambots.

 

[rbadoux]

Real person, definitely.

I would like to hear some feedback from a program manager with a single carrier standpoint. When introducing a new market, I've noticed all 4 points on the polls are viable reasons to do business, I would like to know which ones take priority over the other.

Thanks for the reply

 

[Arnage150]

I would say fast turn around time. Usually there are more than one MGA that has a company that I am trying to access. My time is valuable so speed is key. Commission is great but lets face it you will never get rich writing through MGAs. In my mind its just a temporary spot to place business so I don't lose the sale until I can find an in house market later down the line. Knowledgeable staff is a bonus but ultimately its my responsibility to understand the product. Trust no one.

 

[marindependent]

turn AROUND