DUAL Group, a growing international MGA with US$3.5 billion of GWP, enlisted the help of MGA Systems for a better core management system for their Australia and New Zealand locations to support policy management, financials, and claims.

Because of the niche nature of their MGA, there was no centralized underwriting system, and there were different rating structures and processes across the organization. The online platform utilized in Australia and New Zealand did not integrate with the back end of its business.

With 19 lines of business online and more than 50-60 different product schemes online today, DUAL Group saw a need for a solution that would allow them to do the specialized work in their field.

A solution built to tackle the unique challenges of MGAs

DUAL Group leverages MGA Systems to support policy management, financial activities, claims, quoting, binding, and rating across their broker and underwriting teams in New Zealand and Australia.

In Australia, DUAL Group was able to quickly and effectively migrate its legacy data and policies into MGA Systems. In total, they migrated 60,000 legacy policies into renewals within a few months. As of 2023, they have over 200,000 policies on the online platform. The new system was able to accommodate the peak month of June, which processed over 20,000 independent transactions.

As a result of implementing MGA Systems, the Australia and New Zealand teams have increased the number of renewals and new business quotes that could be processed without being touched by an underwriter to 90-92%, a dramatic increase from 55% previously.

Before implementing MGA Systems, underwriters needed to review nearly half (45%) of all renewals and new business quotes. MGA Systems significantly streamlined this process, reducing manual review to just 10%.

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More time to write new business

Now that many DUAL regional groups operate under one core structure, MGA Systems has eliminated many productivity barriers such as repeat data entry and the need to switch in and out of separate systems. Previously, underwriters and brokers used outdated methods to quote everything. For example, the New Zealand business previously didn’t have an online platform at all, and brokers/underwriters had to plug numbers into Excel, which was highly prone to human error.

Today in Australia and New Zeland, a broker at DUAL Group can quote new business inquiries in just minutes for up to 1,000 different occupations across eight different liability products. This can all be done in most scenarios with no input needed from an underwriter. The integrated system saves employees this extra step and improves efficiencies on routine tasks such as quoting, binding, and issuing policies, leaving them more time to focus on business development. Now, productivity soars for employees, and employees can quote 10 times the amount of business in the same time period.

Open APIs for more flexibility

With open APIs, MGA Systems allows easy integrations with online portals, rating platforms, and other third-party applications. This allows for a single platform for users and eliminates the need to go in and out of different systems during their workday. The open architecture grants customers access to both data and SQL code in their database if needed, resulting in a better interface for brokers and underwriters with all the information and data they need in one location.

Laying the groundwork for future opportunities

To DUAL Group, MGA Systems is a solid investment that has helped the company quickly and effectively expand into new markets. Successfully laying the framework in Australia and New Zealand has empowered them to build a presence in Brazil. The team was able to build the improved system in 4-6 months- something they believe would have taken up to a year without the help of a core platform like MGA Systems.

As a result of the positive experience using MGA Systems and the clear benefits, DUAL Group is using it in other locations such as Spain, Singapore, and Mexico.

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