Why Work With an MGA
An MGA is an agent or broker who has underwriting authority. This is the person that can negotiate contracts or administer programs on the insurer’s behalf. A workers comp MGA serves an intermediary between agents and carriers. When it comes to wholesale insurance, odds are, you are going to want to work with an MGA. Here are a couple of benefits of an MGA.
Higher Expertise Level
MGAs have a higher level of expertise. An MGA who specializes in workers compensation coverage will have information about the legal requirements when it comes to workers compensation. Likewise, an agent will be able to use past experience to inform how your case is handled. Knowledge in your industry and in workers compensation is valuable.
MGAs tend to have ways of simplifying communication. They have effectively technology to help service clients and obtain quotes. Agents are able to use a variety of tools and software. The insurance industry relies on technology to offer streamlined service, to offer preliminary quotes and to handle important documents.
When it comes to workers compensation, if you work with a workers comp MGA, then you can get past all of the time consuming tasks. Instead, you’re working with someone that can administer programs and negotiate for the insurer. An MGA works as an intermediary between carriers and agents or the insured person.