What makes a top MGA?
What makes a top MGA? | Insurance Business Canada
Insurance News
What makes a top MGA?
Firm leads the pack through service and efficiency
Insurance News
By
Mika Pangilinan
Chutter Underwriting Solutions has emerged as one of the top MGAs in the country, earning recognition in Insurance Business Canada’s Brokers on MGAs 2023.
The North Vancouver-based firm was lauded for its overall service and efficiency, evident through milestones like working regularly with more than 1,200 brokers and having access to over ten of the world’s largest insurers.
According to senior casualty underwriter Morgan Chutter, the team has done this through their broad underwriting authority and commitment to delivering swift responses.
“We have quite broad underwriting authority and an internal mandate to get back to every retail broker submission within 24 hours with complete information,” he said. “If we see a risk that doesn’t fit, we decline it immediately so that our broker can get on to the next.”
This commitment to transparency and efficiency has garnered positive feedback from brokers. IBC’s respondents praised the firm’s ability to forge strong partnerships by balancing digital tools and automation with human interaction.
“Brokers can get a no-touch quotation in various areas, we do understand that’s the future, but we still see a huge value add and requirement for physical human underwriting in probably 80% of the space that we play,” Chutter said.
Another senior casualty underwriter, Kevin Williams, highlighted that Chutter Underwriting Solutions has remained independently owned and operated since its inception in 1996.
“We certainly pride ourselves on the fact that we are independently owned and operated and that agility allows us to be flexible,” said Williams. “It allows us to round out anything that might need rounding out, and I think that’s what separates us.”
Some of the firm’s other achievements include managing liability limits exceeding $25,000,000 and over $500 million in written premium.
“We’re constantly looking for ways to evolve, but making sure that we have people with adequate experience to look at those lines of business, we don’t want to bring a product to market where we can’t satisfy it,” Williams added.
Read the full report to learn more about Chutter Underwriting Solutions and the other winners of Insurance Business Canada’s Brokers on MGAs 2023.
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