Merlinos & Associates, Inc.

Introduction

We are experienced insurance consultants and actuaries with a strong understanding of program administrators and the work that they do. Our consultants have worked with more than 30 managing general agencies (MGAs), managing general underwriters (MGUs), and fronting companies.  We have assisted these types of clients with:

• Program Development (rates, rules, forms)
• Competitive Analyses
• Regulatory Correspondence
• Rate Filing Support

In addition, our understanding of program business is enhanced by our experience performing due diligence and other transaction advisory work related to MGA operations as well as our frequent examination of MGA/MGU agreements in the course of our work on behalf of state insurance regulators.

Description of Product or Services you would like to promote in the Association:

Program Development Services -- The current wave of new technology being applied to the insurance marketplace has led to a rise in the number of new MGA/MGU formations as well as new programs being developed by existing organizations.  Our consultants provide the following program development services:

• Making recommendations related to excess insurance/reinsurance structures, limits, retentions and coinsurance percentages.
• Conducting feasibility studies that project the historical claims costs for the parent and comparing the projections to benchmark rates charged in the competitive market.
• Providing actuarial support of rates.
• Communicating with regulators on behalf of our clients to progress client’s goals.
• Providing oversight and management involving the implementation of insurance administration systems.
• Ongoing monitoring of legislative, regulatory, and market activity to provide management our insights and recommendations of appropriate responses.
• Providing pro Forma assistance.

Program Submission Services -- We assist with the preparation of program packages to be submitted to current and prospective carriers.  Whether you are an MGA/MGU with existing programs and are searching for new carriers or a new MGA/MGU with new programs in need of a carrier, we provide the actuarial “backbone” to the submission package.  We also assist in communicating with carriers, addressing the questions and concerns that arise as the carrier scrutinizes the program.

Introductions -- We help facilitate introductions to fronting carriers, reinsurers, insurtech solution providers, policy administration companies, third party administrators, audit support providers, and additional experts that are important to the successful implementation and operation of insurance programs.

How does your product or service specifically target/benefit Program Administrators:

Our services provide the actuarial "backbone" to the development of new programs as well as submission packages that program administrators provide to their current and new carrier partners.

What differentiates your product from others in the marketplace?

• Ability to aid programs in any phase of development, from start-up to maturity.
• Ability to consult broadly with administrators/underwriters on many operational issues, from product/rates to systems implementations & analytics.
• Proven history of helping programs successfully launch in unregulated and regulated environments.