National Programs provides invaluable Information Systems support to MGAs
“Finding technology solutions for diverse, specialized insurance products can be a challenge for any MGA.”
We sat down recently with Arrowhead CIO Adam Nordost to discuss the invaluable help his Information Systems (IS) team provides to National Programs’ 29 companies.
The first step in Information Systems support to National Programs – and our newly acquired companies – is to understand how the technology already in place meets the needs of the business.
From outdated technology to Insurtech
“MGAs may have home-grown technology, products from well-known vendors, or a patchwork of multiple solutions,” Nordost explained. “What they have in place may work well for them and require no changes, or we may be able to augment existing solutions, automating integrations or reducing ever-changing risk so the business can focus on growth.”
In other situations, an MGA’s systems may be dated, inefficient or unable to reach the customers they need. In that instance, the team can help to introduce new technology.
“Think of your technology systems as building blocks. Some work great; others not well at all. Over the years, we’ve built a library of sorts, with various building blocks that we can leverage to help a business to run more smoothly, from A to Z.
“The final landscape is not the same for any business unit. They each have their own specific needs. But we have extensive experience in setting up end-to-end systems. We can link those blocks together correctly and efficiently, whether it’s building on what they already have or starting over with a better, more efficient system,” he explained.
“The key is knowing how to connect the various systems so that they work in tandem to best meet business needs, from how they sell a product to an insured to how they report to carriers, and what challenges and pitfalls to watch out for along the way.”
The Information Systems team has years of experience setting up and maintaining systems for the diverse businesses within National Programs, and can leverage that knowledge to support groups embarking on a technology change, helping them avoid stumbling blocks and rework as needed.
Case studies: How the team has provided Information Systems support to MGAs
Nordost cited examples of Arrowhead’s two major “lift-outs” that resulted in their Automotive Aftermarket and Core Commercial programs. “Sometimes the carriers may not have invested in the needed technology for an up-to-date administrative system, data collection or customer service platform. They may be missing some of the foundational building blocks to service their insureds efficiently,” he said. “We take what they have and build a more efficient way to accomplish the same purpose.”
As an example, Arrowhead Core Commercial was launched in record time of less than 18 months in all 50 states, with eight lines of business. Producers can quote, submit and bind new business and service their policies on the portal, Arrowhead Exchange.
Working with a new carrier, in 2020 the team provided the technology needed for Wright Specialty to quickly launch new property and casualty insurance programs and risk management solutions to public and private universities, colleges, K-12 schools and government entities.
“Whether an MGA offers commercial or personal coverage, admitted or non-admitted; workers’ comp, property, small business package, E&O – our team provides invaluable Information Services support to MGAs.”