Holmes Murphy introduces new insurance MGA | Insurance business America
It promises to help companies control costs
Insurance News
By Jonalyn Cueto
Holmes Murphy, an employee-owned insurance broker, has announced the launch of its new Managing General Agent (MGA), Innovative Program Solutions (IPS). The new company will develop specialized insurance programs to reduce costs and loss ratios for companies in various industries through tailored solutions and a team of industry veterans.
Tim Anders, who has more than 35 years of experience in underwriting and insurance program management, will lead IPS as president. Anders previously worked at insurance companies such as Ryan Specialty, Breckenridge Insurance, Zurich and Atlantic Mutual. Holmes Murphy noted that Anders’ experience in designing and implementing insurance programs aligns with his vision to drive innovation and provide customers with customized insurance solutions.
“Innovation isn’t just in our name – it’s in our nature,” Anders said. “Our team and extensive network of insurance and industry experts are committed to developing best-in-class programs for our broker and carrier partners, reducing costs and providing expertise you won’t find anywhere else.”
Programs for specific business needs
IPS’ goal is to work with insurance carriers and brokers to develop programs tailored to specific business needs. The goal is to develop solutions that help companies reduce costs and loss rates. Holmes Murphy emphasized the importance of focusing on a number of targeted growth areas to provide broker partners with new opportunities and access to the latest technologies and tools.
“The program business is an industry that generates more than $80 billion in premiums each year, largely written by Target Markets members,” Anders said. “Carriers have increasingly turned to MGAs like IPS to provide expertise, innovation and effective underwriting approaches in specific business areas, helping them grow and enter new markets.” We believe that by adopting IPS, we Closer partnerships with our carrier partners can tailor unique insurance solutions to our customers’ needs and positively influence their impact on valuation and risk management.”
Tom Stewart, president of Holmes Murphy’s PLUS division, noted the importance of customization and the resources available through IPS. “We will help ensure each program is tailored to each business by providing dedicated resources while working to control costs,” Stewart said.
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2024-05-10 15:54:16
www.insurancebusinessmag.com
