INSURANCE TECHNOLOGY

Vertafore Acquires MGA Systems, Expanding and Improving MGA Solutions

Vertafore | June 30, 2022

Verta_fore_Acquires
The latest acquisition by the InsurTech industry leader, Vertafore, brings top-tier industry talent and two market-leading MGA solutions into the fold.

Vertafore, the industry standard in cutting-edge insurance technology, announced that it had acquired MGA Systems, the industry's preeminent developer of MGA-specific software.

MGAs need solutions that can keep up with their fast-paced business needs as they seek to diversify into new niche markets and keep their current client. Vertafore's suite will be expanded to include policy administration and rating solutions thanks to MGA Systems' acquisition. This enhances Vertafore's existing MGA offering and gives these critical players in the independent insurance channel a leg up in entering the new markets and rapidly deploying products for their customers.

MGA Systems offers two industry-leading solutions. IMS is a management system with policy administration and back-office functionality, and NetRate is an ISO-based rating platform. These solutions have helped MGA Systems customers accelerate product time to market by integrating industry and technology knowledge. Vertafore is committed to expanding MGA Systems' customization and open architecture, which are key to customer success.

As the MGA market continues to grow, it is more important than ever for MGAs to have integrated technology solutions that strengthen their ability to make informed risk and pricing decisions, MGA Systems has been at the forefront of the industry's work in this area, I am very pleased to welcome the MGA Systems team into the Vertafore family, along with the wealth of talent, passion, and expertise they bring."

Vertafore's CEO Amy Zupon.

Together, MGA Systems and Vertafore's already-extensive MGA management system (AIM™) form the industry's most robust and feature-rich software suite.

After acquiring AgencyZoom™, Vertafore has taken the next step toward its goal of simplifying and automating its products and services across the entire insurance distribution channel by acquiring MGA Systems.

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