The suite aims to enhance digital capabilities for programme administrators operating in the Americas region.
Michael Parcelli, who has held senior roles for nearly four decades in underwriting, claims, and technology at insurance carriers, brokers, and MGA distribution channels, has been appointed as the Senior Vice President and Head of the managing general agent (MGA) division to lead this initiative.
The new suite provides a comprehensive set of digital solutions geared towards improving market presence, streamlining underwriting processes, and optimising operational efficiencies.
Travis MacMillian, president of Americas at Xceedance, said: “Under Michael Parcelli’s seasoned leadership, this suite is set to redefine industry standards, providing MGAs with an unparalleled platform that integrates cutting-edge technology and data-driven insights. Our focus remains steadfast on enabling our clients to surpass their operational goals while maintaining agility in the dynamic insurance landscape.”
According to reports, key features of the suite include platform integration, which enables swift market entry and scalability while promoting continuous innovation and minimising ownership costs. Additionally, the suite offers technology integration to enhance operational effectiveness.
Among its offerings, the suite includes the licensed MGA Shell, a nationally accredited MGA tailored for admitted and non-admitted markets. This feature facilitates a cost-effective market entry point supported by fully integrated policy and claims management platforms.
Moreover, the suite provides data integration capabilities to leverage data for generating actionable insights through high-quality migration, enrichment, and governance. It also offers operations services, delivering comprehensive strategic support across the insurance lifecycle, covering underwriting, policy administration, claims management, and more.
Parcelli said: “The MGA Agility Suite represents a pivotal advancement in how MGAs can leverage technology to enhance operational capabilities and market responsiveness. Our suite is not just a set of tools; it’s a comprehensive ecosystem designed to support MGAs in their quest for efficiency, scalability, and competitive advantage.”
He added: “With decades of experience in the insurance sector, I’ve witnessed the transformative power of technology and am excited to lead the deployment of this innovative solution that addresses the nuanced needs of MGAs and MGUs.”
Author: Joanna England