Earlier this month, Xceedance won the Silver Award in the ‘Business Partner of the Year’ category at Insurance Times Awards 2019, which recognizes outstanding service partners who consistently go the extra mile to ensure success and growth for brokers and insurers. The judges panel received entries from various service providers — loss adjusters, technology firms and ratings agencies, communications/marketing agencies, consultancies, fraud and credit data specialists — showcasing innovative approaches and expertise, tireless service, and demonstrable evidence of success.
The nomination of Xceedance, for its partnership with Archipelago Risk Services, stood out for helping the client launch an MGA, underpinned by an automated quote/bind/PAS platform, writing five lines of business (home, motor, investment property, pet and travel) within eight months of formation. In September 2019, Xceedance was also selected as the Technology Partner of the Year at the Insurance Times Tech and Innovation Awards 2019 for its engagement with Archipelago.
Xceedance delivered significant business value to Archipelago by implementing the MGA Agility Suite. The platform enables usage of multiple data sources and connectors to third parties; it includes a sophisticated rating engine and an automated underwriting process — making Archipelago’s operations 10-15 times more efficient than a traditional MGA, according to Archipelago. By typical industry standards, one insurance professional can manage 1,000 individual policies annually. But with the Xceedance MGA Agility Suite, each Archipelago team member can manage 5,000 policies containing 25,000 individual risks annually. Moreover, it’s a significant advantage that the application allows the MGA to manage five homes, 20 cars, 20 investment properties, plus travel, and pet insurance, under a single policy. The Xceedance MGA Agility Suite empowers Archipelago with highly-automated workflows and a streamlined policy lifecycle — boosting efficiency, enhancing the policy buying experience, and lowering operating costs for the MGA and its intermediary partners.
To learn more about the MGA Agility Suite and schedule a demo, write to [email protected].