MGA Connect uncovered - our product vision

MGAs are, by nature, innovative and entrepreneurial, and increasingly need their technology to work harder for them. In our experience, however, there is a lack of systems designed to meet their specific requirements. Flexibility and scalability are key, as is the ability to quickly test and launch their products in the market.

There are already a number of legacy policy admin systems on the market that cater to insurance companies and MGAs. These offer the basic functions for underwriters to quote and bind policies, but on antiquated systems which are becoming less and less fit for purpose. Then, at the other end of the spectrum, there are the capable but expensive proprietary policy admin solutions but are built and priced predominantly for large carriers. Very few options exist that deliver modern tech solutions at a price point that works for ambitious, innovative, growing MGAs. Even fewer are developed with the understanding that MGAs need speed, flexibility and a product that reduces costs and accelerates growth.

Azur Technology was an MGA (formerly Azur Underwriting), so we understand the unique challenges they face. We know that legacy systems, paper-based processes and different data sources can hinder growth and chip away at profit. That knowledge is in our DNA and means we were able to put user experience at the heart of MGA Connect, the product we built for our customers to launch, grow and scale.

As Chief Product Officer my job was to ensure the vision for MGA Connect was brought to fruition. Because of our background, we knew that speed to market was critical for ambitious MGAs when launching new products. This led us to start with a Core solution that could be implemented without extensive consultation, adaptations or implementation time. This would accelerate our customers’ growth almost immediately and allow them to launch new insurance products quickly and relatively cheaply.

Whether they need a product for landlords, cybersecurity, aviation or terrorism, the architecture for MGA Connect means an MGA can launch fast for any line of business and transform systems from manual to digital in the process. Crucially, there’s no need to repeat the process time after time for each product, which keeps it affordable for ambitious MGAs.

The challenge didn’t stop there. Our team had to balance the need for a standardized system, supporting functions like quoting or creating policy documents, with flexible options to support each MGA’s business. It’s at this point when our experience as an MGA comes to the fore – being more advisor than just MGA technology partner. We use our insider knowledge to configure the tools that will help customers innovate and meet their business goals. Using a set of additional modules including Rater, Billing and a Broker Portal, MGA Connect’s Plus option enables greater automation and a system that’s more personalized to the MGA and its customer journey.

Salesforce provided the CRM, security and stability we needed to make MGA Connect a viable long-term product, along with the flexibility to adapt depending on customer needs. Using Financial Services Cloud as the foundation, we gained market-leading data management and billions of dollars of R&D into the latest technological advances. Now, with its launch of Agentforce, we are confident in its ability to harness AI to improve efficiency and service. There is huge potential for the applications of AI for us and our customers.

Whether it’s with our Core system or utilizing additional modules through Plus, the goal remains the same – help our customers launch products fast, grow and scale while making processes as efficient as possible for underwriters. I’m proud to say we’ve built a product that delivers that along with simplicity, flexibility and massive efficiency for customers, who are not just saving minutes and hours on burdensome admin, but in some cases several days each week.

Our work on MGA Connect continues as we strive to be the system of choice for ambitious, innovative MGAs. We’re constantly looking at research data as well as listening to customers to drive its development. Meanwhile, we deliver on the original product promise – offer the fundamentals of a digital policy admin and underwriting system with additional modules to totally transform any MGA.

ABOUT KATYA-YANI VYAS 

Katya-yani Vyas has more than 10 years of experience working in technology, with eight of those being for insurtech companies. Starting at the Azur Group as a Product Owner and then VP Product and Innovation, Katya was promoted to Chief Product Officer when the company transitioned to Azur Technology. In her current role Katya uses her experience working with startups to lead a team of product managers. Together they work to meet the challenges MGAs face as well as guiding the delivery and vision of MGA Connect.

ABOUT MGA Connect 

Built for all classes of insurance by a team of former underwriters, Azur Technology’s MGA Connect product is an end-to-end digital policy admin system that delivers innovative underwriting tools and powerful automation to get insurance products out to market faster, make underwriting processes more efficient, and open up new paths towards profitability. With support that scales as you need it, you focus on the underwriting, we’ll take care of the technology.

Discover how MGA Connect can support your MGA on the journey to launch, grow and scale. Click here to get in touch or book a demo