Our Services
Managing General AgenciesManaging Agents
Why do we work with Managing Agents?
Managing Agents working on a delegated authority basis are our ideal clients. Clients that are in need of timely and consistent data so that they can act instead of react to the daily challenges of a tough pricing environment. Clients that are ready to embrace change and are ready to redesign their workflow to create a consistent and robust end to end framework. Clients that want ownership of their actuarial analyses but can’t justify a full time actuary.
Managing General Agencies are the producers of the business, the front liners. Yet, often they exercise limited control over their operations from what to write, to how much business to write, to what new products to launch to what data they hold in their systems.
Often they do not have a clear picture of the performance of the business they write.
For many MGAs and MGUs is not viable or economically justified to have a full time actuary and often rely on the limited actuarial support from brokers or from their insurance partners.
Does this sound familiar? When you are ready to talk to an actuary to discuss how we can help you move your business forward, get in touch, we would love to hear from you.
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The three biggest mistakes that cost Managing General Agencies a fortune and prevent them from profitably growing their business
What we offer to MGAs
A trusted partner.
We will be at the end of the phone or e-mail to answer your questions, to point you in the right direction. We will help you compile and present your data in a compelling format that is clear and easy to model. We will attend meetings with you where other parties will be bringing their actuaries.
More than 50% of our clients are MGAs and MGUs that work on a delegated authority basis with insurance companies and Lloyd’s Syndicates.
We work with MGAs on a number of formats from a continuous partnership programme to one-off projects. Get in touch to discuss the best way we can work together.
Partnership programme
Our partnership programme is ideal for small to medium MGAs who would like to have access to a dedicated team of actuaries from a few hours to a few days a month.
For an agreed regular monthly fee, you will have peace of mind that you can speak to an actuary as and when required, to ask questions, to discuss existing problems or challenges, to get guidance and feedback when preparing data for external release and to get support when attending meetings and presentations.
More details about our membership programme can be found here.
Being a member also entitles you to a number of benefits such as live training sessions on technical topics and competitive consultancy rates for larger one-off projects.
The day you need an actuary you don’t have time to search, interview and engage. You need immediate answers. With our partnership programme you don’t need to enter an agreement each time, you don’t have the uncertainty of hourly charges and the fixed investment is easy to budget in the business plan.
Actuarial consultancy
We work with MGAs in a wide range of interesting projects
We help clients achieve efficiency, create consistency, improve their data and being able to dice and slice their book in order to find pockets of profitable business and make strategic decision.
Here is a list of recent projects we have delivered for clients that have made a significant difference to their business:
Profitability review of the existing portfolio to devise a strategy for growth and expansion of products offered.
Design and implementation of a technical pricing framework that reduced the workflow from a few days to a few hours per account.
Implementation of automated rate monitoring systems linked to technical pricing models that comply with Lloyd’s requirements, freeing invaluable hours of the underwriters’ day.
Loss ratio review and data preparation for client seeking to expand their current capacity and in search of new partners.
Design and implementation of the technical rating framework for new overseas products including documentation for insurance regulators.
Training
Our training courses are usually the first step in building long lasting relationships with MGAs.
Invariable, they are looking to better understand actuarial concepts and methods so that they can better engage with their insurance partners. Once they have a better technical foundation of actuarial methods, the natural next step is to engage an actuary to implement these for them.
Our series of courses Actuarial Courses for Non-Actuaries provide in simple terms explanations of complex concepts that allow delegates to improve their understanding of the mechanics of actuarial work. Our courses allow insurance professionals to better understand how the 5 R’s of insurance are connected: Rating, Reserving, Reporting, Reinsurance and Risk.
Since 2007 we have trained over 4,000 insurance professionals from all areas of the business C-level executives, underwriters, claims, finance and accounting, compliance, risk management, internal audit, HR and actuarial. From first day on the job graduate to Chief Executive Officers, our courses are tailored to all levels of skills and experience.
The most popular course we run for MGAs is the Fundamentals of Insurance Pricing course which provides a detailed overview of key topics:
The course was very fact based and informative. Difficult/complicated subject matter was delivered in an easy to understand form.
Very useful and relevant course for both new and experienced insurance professionals, particularly underwriters.
What is the main goal of insurance rating?
What is the expected loss cost of an insurance policy?
How are premiums calibrated?
Technical price, benchmark price and actual price
Premium vs. capital
Key considerations when designing and developing a benchmark rating model
How are rate changes calculated?
The Lloyd’s framework for Risk Adjusted Rate Changes
Renewal policies vs. New business
Rate change vs. Rate adequacy
Brief introduction to experience rating – the burning cost
For a complete overview of our training courses click here.
Get In Touch
DAVENPORT HOUSE
16 PEPPER STREET, LONDON E14 9RP
+ 44 (0)20 7510 9690
INFO@MATBLAS.COM