MGA Hosting
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xBroking operates as an independent incubator platform offering a “Design, Launch & Host” service to underwriters and underwriting teams who are looking to establish a Managing General Agent (MGA).
We offer a full ‘360’ support function to new and existing MGAs and Lloyd’s Coverholders, offering a bespoke service to support entities involved in the delegated underwriting arena throughout Europe.
We’re Here to Help if You…
- You want to be your own boss and build close personal relationships with your clients and supporting brokers.
- You want to reap the rewards of your hard work and control your future.
- Need assistance in setting up your first MGA.
- Have a vague idea in terms of regulation and compliance.
- Are not happy with your current Principle/arrangements, and want to work with someone more supportive towards your strategic direction.
- Are looking for a broad range of insurers to place your insurance enquiries quickly and effectively.
- Are seeking Lloyd’s of London access for your underwriting capacity requirements.
- Are seeking to ‘go at it alone’ after several years of successfully being an underwriter with your own bank of clients.
- Want the flexibility to work your own hours around your clients’ requirements.
- Require placement and product support for any unusual enquiries.
Our Objectives in Helping You…
- Help you grow and develop your MGA with like-minded partners and supporting insurers.
- Give you peace of mind and remove any burden around compliance, regulation, client money reconciliations and software selection.
- Reduce your regulatory and infrastructure costs so you can focus on marketing and new business.
- Provide you with a platform to develop and excel your business.
- Ensure your financial stability by offering flexible working agreements.
- Offering a transparent agreement and prompt financial reconciliation to ease your cash flow.
- Giving you ‘whole of market’ access with over 90 insurers and Lloyd’s Syndicates to place business into.
- Minimise and remove any challenges you have as an MGA appointed representative.
- Enable you to work with your new and existing clients with reassurance and confidence.
- Have someone by your side, during the good times and bad.
- Help you grow as an MGA in multiple lines of insurance.
- Provide you with flexible options to work.
What we Will Do for You
- Support your business, whether an existing AR-MGA or new start-up in the strategic direction you choose.
- Ensure you are compliant at all times.
- Keep you informed of new regulations and industry best practice.
- Offer you access to market and insurers to place your insurance enquiries.
- Support you financially, by offering regular commission payments (weekly, fortnightly and monthly).
- Assist you in your marketing and digital marketing efforts to grow your business and brand.
- Help you protect and grow your business. After all, the clients are yours and will always be.
- Help you become directly authorised, as and when you feel the time is right.