Progressive MGAs, like JenCap Holdings, adopt new technology for a competitive edge.SANTA BARBARA, Calif., May 19, 2020 (GLOBE NEWSWIRE) -- Recent trends in insurance distribution find many insurers expanding partner channels as a means of growth, ...
Progressive MGAs, like JenCap Holdings, adopt new technology for a competitive edge.
SANTA BARBARA, Calif., May 19, 2020 (GLOBE NEWSWIRE) -- Recent trends in insurance distribution find many insurers expanding partner channels as a means of growth, if not straight-up survival. Managing general agents (MGAs) are a major part of that model, and ClarionDoor, a proven provider of cloud-only, frontline insurance distribution solutions, is pleased to announce the launch of the ClarionDoor MGA Hub (CD MGA Hub) to help further revolutionize MGA distribution.
MGAs offer insurers the ability to rapidly and expertly find markets for new products; however, a modern platform tailored to the specific needs of the MGA business model is necessary to maximize operational efficiency and customer service. Until now, MGAs have had the daunting challenge of working with technology designed for carriers and utilizing tools which require quote data to be entered multiple times in different formats. That is why several MGAs, primarily JenCap Holdings LLC (JenCap), a New York-based national MGA focused on specialty insurance and program management business, recently implemented the CD MGA Hub.
“Serving the marketplace with expertise, speed, and efficiency is our singular focus. To do this, we need to understand risk appetite and place the right insured with the right carrier and the right insurance product,” said Randy Paez, CTO at JenCap. “With the ClarionDoor MGA Hub, we are able to enter application data once, get risk appetite from multiple carriers, and deliver quotes to our customers without ever re-keying data. The capabilities in ClarionDoor’s platform will significantly improve our ability to serve the marketplace.”
Recognizing the challenges that MGAs face today, ClarionDoor has broken the mold of traditional quote processing by providing a simple, efficient interface for quoting new business. Backed by a powerful Application Program Interface (API) architecture, the CD MGA Hub is able to capture minimal information and return quotes from various carrier partners without the barriers of duplicate data entry data or complicated integrations and implementations.
“This is really a game changer for the MGA market,” said Pat McCall, chief sales officer at ClarionDoor. “MGAs are a major part of the P&C and specialty lines space, and they really needed a more efficient tool for providing services. Through the ClarionDoor MGA Hub, MGAs will be able to provide better service to their retail agents while improving the sales opportunities for their partner carriers.”
For more information, please contact Spiro Skias, Director of Product Marketing for ClarionDoor, at 814-853-7045 or email@example.com, or visit the company website at www.clariondoor.com.
About JenCap Holdings LLC
JenCap Holdings is a premier insurance distribution platform. Our companies are leading specialty insurance and program management businesses, including managing general agencies, specialty program underwriters, transactional wholesale brokers, and captive managers. The rapidly changing landscape of the insurance industry demands precision and innovation. JenCap‘s team has the sector expertise critical to ensure its companies flourish in this dynamic environment. Our approach is centered on driving growth through organic expansion and strategic acquisitions, leveraging industry-leading technology and advanced analytics. For more information, please visit jencapholdings.com.
ClarionDoor is the leading provider of cloud-based distribution solutions for insurance, delivering enterprise-grade rating, quoting, and policy issuance for all lines and geographies. Built on standards-based web services and best-in-class user interfaces, ClarionDoor’s proven software-as-a-service products have delivered millions of accurate real-time quotes for dozens for insurance organizations. For more information, please visit clariondoor.com
Source(s) : ClarionDoor, LLC
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