Insurance innovation for distribution partners

The Insurtech MGA Model of the Future: It's NOT All About Faster...Easier...Better Tech (Here's where most MGAs are getting it wrong) 👇 The MGA market is booming—and that’s both exciting and dangerous. Right now, venture-backed MGAs are competing to build the next big insuretech platform. They’re banking on advanced quoting systems, building great 'products' and backend efficiencies to win the market. But here’s the catch: all that fancy tech won’t save them. UNLESS...they have the right distribution strategy. My Prediction: In the next 3-5 years, many MGAs will fail. Why? Lack of focus on a winning distribution strategy and agent niche marketing, content creation and sales training support. The Opportunity: MGAs that focus on helping agents actually grow their books of business in the industry niches they serve will dominate the market. This means... 1) Creating industry niche-specific content and tools that help agents build trust, generate high quality leads, fill their sales pipeline, and drive revenue growth. INVEST in marketing, content creation and sales training to help them OWN and DOMINATE their niche. 2) Building world-class risk management programs to ensure favorable loss ratios and profitability. Give them the necessary resources and support they need to uncover problems and strategies to implement real solutions. 3) Focusing on underserved, niche markets instead of competing on speed and price. De-commoditize the market by providing industry niche expertise and a world-class client experience (for insureds). 4) Invest heavily in Producer sales and content creation training, providing resources, workshops, masterminds, and a dedicated community where everyone can collaborate and share insights, knowledge and experiences. My Two Cents... If you’re an MGA leader, now is the time to pivot. Stop chasing the tech race and start investing in the fundamentals: → Distribution: Teach agents how to market and sell your product. → Niche Focus: Build programs tailored to stable, relatively pandemic and recession-proof industries. → Risk Management: Control costs by proactively managing claims and loss ratios. → Producer Training: This is a no-brainer and self-explanatory (yet, very few are investing wisely here) Let's keep this conversation going and continue to push the limits of what's possible for the success and growth of this industry... What do you think the future holds for MGAs? Let’s discuss. Drop your thoughts in the comments!👇 #mga #insurance #insurtech #riskmanagement

🚨 The MGA Market is Evolving 🚨 MGAs are no longer just distribution partners—they’re becoming core infrastructure in a fast-changing insurance ecosystem. From embedded insurance and AI-driven underwriting to real-time risk data visibility, today’s MGAs are reshaping how carriers reach, evaluate, and price risk. 💡 The result? The industry may evolve into a multi-tiered ecosystem of MGAs that is more agile, tech-enabled, positioned to expand distribution.  This could include: ➡️ Distribution-Focused MGAs Mastering embedded insurance and new channels to help underwriters reach the right risks faster. ➡️ Underwriting Tech MGAs Blending traditional underwriting with AI and data analytics for smarter, more precise risk selection. ➡️ Data Layer MGAs Acting as intermediaries—standardizing risk data and giving carriers real-time visibility to adjust strategies on the fly. 📖 Dive deeper into the three emerging MGA types and what they mean for the future of insurance. 👉 Read the full insight here: https://lnkd.in/e7CxC88e #AvondaleInsights #Insurtech #MGA #InsuranceDistribution #Underwriting #InsuranceInnovation #RiskManagement 

📰 Ready for another impactful edition of Insurance Amplified? ⚡🔌 This week, I’m thrilled to bring you highlights from my conversation with Gary Hoberman, CEO and Founder of Unqork, as we unpack how GenAI and no-code platforms are reshaping the insurance distribution landscape. Sponsored by IRYS Insurtech, this season dives deep into the disruptive potential of AI to transform distribution, data management, and customer engagement. Here are some can’t-miss insights from our discussion: ⚡ Bridging Technology Gaps “Insurance distribution needs a unified approach—brokers, MGAs, agents, and carriers should all benefit from reliable, shared data” Gary and I discuss the urgent need for cohesive, data-driven systems across the value chain—ensuring brokers, MGAs, agents, and carriers operate on consistent, reliable data. ⚡ GenAI and the Promise of No-Code “No-code is about future-proofing—enabling a model that’s constantly updated without any technical debt weighing it down.” Imagine applications that evolve without decay. Gary highlights how no-code can free budgets from maintenance and allow resources to focus on innovation and compliance. ⚡ The “One-Entry-Only” Principle “You should only ever enter data once.” With Unqork’s integration of LLMs, repetitive data entry is eliminated, enabling real-time automation across systems and driving efficiency in every client interaction. 🗣💬 Favorite Quote: “If there's no more code, there's no more language… data is timeless.” 🚀 Want to explore how GenAI can take your distribution strategy to new heights? 🎧 Listen to the full episode here: https://lnkd.in/eeR9Zed7 🔌 Stay plugged into the latest insights on the future of insurance distribution with Insurance Unplugged! #InsuranceAmplified #InsuranceUnplugged #AIinInsurance #GenerativeAI #NoCode #InsuranceDistribution #Unqork #IRYSInsurtech

There's a quiet corner of the insurance world where the policies are weird, the risks are wild, and the tech has been stuck in a permanent '98 screensaver. Specialty insurance distribution: necessary, complex, and until now, overlooked by serious innovation. Enter Loro Insurtech Inc., based out of Dover, Delaware, and moving like they've got nothing to lose and everything to build. They're not trying to disrupt the middleman, they're giving the middleman a jetpack. Founded in 2021 by Peter Tilbrook (CEO and Co-Founder), Loris Candylaftis (Co-Founder and Head of Technology), and Diego Silva Villalba (Co-Founder and Head of Sales and Implementation), Loro was born from deep insurance experience and deeper frustration. They didn't just see gaps in the system, they were working inside them. After years at firms like Tokio Marine HCC, Marsh, and Willis, they knew exactly where the bottlenecks lived, and decided to code their way through them. Now, they've just locked in $1.1 million in fresh seed funding led by Markd, with support from a crew of insurance-savvy angels who know that innovation doesn't start with whiteboards, it starts with battle scars. This isn't their first dance with capital either. They raised $750K back in 2023 and put it to work immediately, earning spots in Lloyd's Lab Cohort 11, landing over 25 clients, and connecting 600+ #brokers across four continents. Not bad for a crew running lean and building globally from Dover to Guadalajara, Mexico, their self-proclaimed "Mexican Silicon Valley." So what's the play? Loro built a #nocode, #multilingual platform that lets carriers, MGAs, and brokers launch custom insurance products without upfront investment. Full underwriting control. Real-time data. Quote-to-bind portals. #Claims, compliance, #payments, wrapped into one unified SaaS beast. They're offering the first $100K in gross written premium for free, no strings. If you win, they win. Simple. This isn't some shiny front-end fix. It's infrastructure with teeth. A platform that meets brokers where they are and gives them tools to move faster, without gutting the intermediaries that make specialty insurance work in the first place. It's not about removing humans from the process. It's about giving humans leverage. Add in partnerships like the one with Turris, led by Douglas Ver Mulm, to automate compliance, and it's clear Loro isn't trying to just sell software. They're building a #distributionecosystem that's modern, connected, and scalable. #Startups #StartupFunding #EarlyStage #VentureCapital #SeedRound #Insurance #InsuranceTech #InsurTech #FinTech #Enterprise #EnterpriseTech #EnterpriseAI #SaaS #Data #DataDriven #Infrastructure #Compliance #Technology #Innovation #TechEcosystem #StartupEcosystem If engineering peace of mind is what you crave, Vention is your zen.