Program Administrator & MGA Consulting
Actuarial and insurance expertise that helps program administrators develop, launch and grow successful insurance programs
From feasibility and pricing to carrier submissions, regulatory support and implementation, we help MGAs, MGUs and other program administrators turn insurance opportunities into well-supported programs.
Program Administrator & MGA Consulting
What we offer
Developing an insurance program requires more than identifying an attractive market opportunity. Rates and coverage need to be supported by robust analysis, the appropriate carrier and reinsurance arrangements need to be established, regulatory requirements addressed and the operational infrastructure put in place to administer the program effectively.
Davies provides actuarial and insurance consulting to managing general agencies (MGAs), managing general underwriters (MGUs), fronting companies and other program administrators. Our consultants bring together expertise across program development, pricing, regulatory matters, reinsurance, financial projections, technology and transaction advisory.
We can support new organizations developing their first program as well as established MGAs and MGUs launching new products, entering new markets or seeking new carrier relationships.
Developing and supporting insurance programs
We work with program administrators from the early stages of assessing an opportunity through to implementation and ongoing development. This can begin with feasibility analysis, including projecting historical claims costs and comparing them with rates in the wider market, before moving into product development, pricing and the design of appropriate insurance and reinsurance structures.
Our support can also extend to the operational and regulatory requirements surrounding the program, including insurance administration systems, regulatory communications and monitoring legislative, regulatory and market developments.
Where an MGA or MGU is seeking capacity, we can help prepare the program submission and provide the underlying actuarial analysis required by prospective carriers. We can also support discussions with carriers as they assess the program and respond to the questions that arise during their review.
Our services
Our program administrator and MGA consulting services include:
- Program feasibility studies
- Program development
- Actuarial pricing and rate support
- Competitive analysis
- Rate filing support
- Regulatory support
- Reinsurance structure analysis
- Financial projections and pro forma analysis
- Program submission support
- Insurance administration system support
- Market and regulatory monitoring
- Transaction advisory
Our experience
Our consultants have worked with more than 30 MGAs, MGUs and fronting companies, supporting program development, competitive analysis, regulatory correspondence and rate filings.
That experience extends beyond individual actuarial assignments. We understand how the different components of a program fit together, from rates, rules and forms through to carrier and reinsurance arrangements, financial projections, regulatory requirements and the systems needed to administer the business.
Our consultants also bring experience from other perspectives within the program market. We have performed due diligence and other transaction advisory work involving MGA operations and reviewed MGA/MGU agreements through our work supporting state insurance regulators. This provides additional insight into the commercial, actuarial and regulatory considerations surrounding program business.
We can also help connect clients with other organizations and specialists involved in establishing and operating programs, including fronting carriers, reinsurers, insurtech providers, policy administration companies, third-party administrators and audit support providers.
