MGA Systems Qorus Innovation in Insurance Awards 2024

In the early 1990s, MGA Systems co-founder John Bennis worked as an insurance broker by day and a software developer by night.

While working as a broker at his father’s insurance agency, Kerwick and Curran, Inc., John had the opportunity to build software for an MGA the agency had launched—a task given to him since he was one of the few team members with working computer knowledge. John set out to develop this one purpose-built program for the MGA, not knowing the lasting effects to come: he’d develop a product that would revolutionize the way MGAs conduct business.

With time, other MGAs caught wind of his innovative solution and approached John, seeking similar technological upgrades for their antiquated systems. As the entrepreneurial sector of the insurance space, MGAs need a specialized core policy administration system to help run their business. Recognizing the potential to fill a niche in the market, John Bennis formally launched MGA Systems in 1998.

Now Vice President of MGA Systems at Vertafore, John says it best in his own words: “Early on I learned that every MGA is completely different: the way they conduct their business, the products they offer, and the way they approach underwriting. At the same time, they still need to process insurance like every other part of the distribution channel. So, they need a solution with core functionality that can be altered based on their individual needs.”

With this mantra driving their approach, MGA Systems delivers a core policy administration system capable of adaptation, ensuring that each client receives a solution perfectly aligned with their distinct business practices.

In 2022, the team at MGA Systems decided to take their company to the next level by looking for an acquisition partner.

John noted: “We began looking for a company with a strong sales and marketing team and the internal infrastructure to help us take our superior product further into the market. Vertafore’s shared vision is how we can offer a more connected experience for our MGA customers. With this partnership, we’re poised to bring better service to the market with a suite of best-of-breed technology designed to meet the unique needs of the MGA.”

Since acquiring MGA Systems, Vertafore has launched an integrated suite of solutions for MGAs, MGUs, and other intermediaries. These solutions include integrations with ImageRight to boost productivity and NetRate/AIM for compliant rating, which enables MGAs to streamline their workflows, follow best practices, and access real-time credentialing and compliance data.

In 2023, Vertafore added five new MGA-focused partners to its industry-leading Orange Partner Program to complement the unique needs of MGAs. The program’s expansion leverages Vertafore’s open API architecture to provide MGAs with the right tools to continue innovating.

MGA Systems stands as a testament to John's vision and dedication—a pioneer in providing bespoke software solutions to the ever-evolving landscape of MGAs.