MGA — Managing General Agent: underwriting, reinsurance
Configurable underwriting engine, binder and line-slip management, facultative and treaty reinsurance, Solvency II Pillar III reporting.
The 5 headaches of the Managing General Agent
Non-standard underwriting
Specialty risks not fitting fixed tariffs require senior underwriter judgement. Without rule engine: all in Excel + hope for human memory.
Multi-capacity reporting
3 capacity providers, 3 different BDX, 3 formats, 3 cadences. Share-allocation errors = chargeback from capacity provider.
Solvency II Pillar III
Manual quarterly QRT reporting, S.05/S.17/S.19 data reconstruction from separate Excels, hope EIOPA doesn't ask for clarifications.
Own reinsurance
Quota-share treaty with reinsurer requires cession computation on every policy, cession BDX generation, recoveries tracking. Spreadsheet hell.
Cross-border passporting
FoS in another EU country = dual compliance (Italy + target country), document translation, localised KYC. Without platform: give up on the foreign market.
Underwrite better, reinsure with method
| MGA-specific activity | Status quo | With NewPicass 14.Net |
|---|---|---|
| Non-standard underwriting | Judgement + Excel + memory | Configurable rule engine + automatic escalation |
| Multi-capacity BDX | 3 separate Excel files | N auto-generated BDX per capacity provider |
| Solvency II Pillar III | Manual quarterly Excel | Auto-populated QRT, EIOPA-ready XBRL export |
| Own reinsurance | Spreadsheet hell | Reinsurance module · automatic cession |
| Cross-border FoS | Hard / skipped | Native multi-currency, multi-language, multi-regulator |
How the platform fits your role
MGA regulations
On an Italian specialty MGA
Frequently asked questions from MGAs
What is an MGA (Managing General Agent) and how does it differ from a coverholder?
An MGA is a company underwriting insurance risks on behalf of one or more insurers (capacity providers), typically with broader delegated underwriting authority than a simple coverholder: includes non-standard risk underwriting, own claims handling, sometimes own reinsurance. Operationally: the coverholder issues policies within pre-defined tariffs, the MGA can design products and underwrite risks case-by-case within delegated authority.
Is the underwriting engine configurable?
Yes. The rule engine lets you define accept/reject/escalate rules parametric per line, product, geography, amount, customer profile. Typical examples: "CIG surety bond > 5M = escalation to senior underwriter", "principal with CRIF score < X = automatic decline", "construction sector with loss ratio > 30% = referral to reinsurer". Rules editable without development intervention.
How do you handle binder and line slip?
Binder = delegated authority agreement with capacity provider; line slip = multi-insurer capacity with a leading broker. NewPicass 14.Net tracks both: every underwritten risk is labelled with the relevant binder or line slip, the different capacity providers' shares are computed automatically, premium/claims BDX are generated separately for each line-slip capacity provider.
Can I manage own reinsurance as an MGA?
Yes, via the integrated Reinsurance module. An MGA operating retrocession to another reinsurer can configure own treaties (quota share, surplus, XL), automatically compute cession on underwritten risks, receive recoveries via loss advice. Typical for specialty MGAs with concentrated exposures.
What does Solvency II Pillar III reporting require?
The Analytics & BI module includes standard EIOPA QRT (Quantitative Reporting Templates) for Pillar III: S.05 premiums and claims by line of business, S.17 reserves, S.19 claims by underwriting year, S.31 reinsurance. Data auto-populated from back-office. XBRL export ready for EIOPA submission via national portal.
Can I operate cross-border in the EU as an MGA?
Yes. NewPicass 14.Net supports multi-currency, multi-language, multi-regulator. An Italian MGA doing freedom of services in Germany configures: EUR tariffs, German conditions (via AI Translation module), BaFin reporting in addition to IVASS, KYC AML compliant with the end-customer jurisdiction.
See NewPicass 14.Net as it would work for a mga
45 minutes with one of our engineers. We show you concretely how the platform fits the specific workflows of your role — not a generic product demo.