Posted by: jmwilsonmga | March 15, 2011

And What Do You Do?

What question do you hear most frequently when meeting someone new?

 “What do you do for a living”?

Seems like a pretty easy question to answer for most, unless the answer is “I am the marketing manager for J.M. Wilson, a Managing General Agency in the insurance industry”.  Usually, whether I am speaking to someone in the insurance industry or not, I have to elaborate.

My description is simply:

Our customer is the independent insurance agent. We provide our agents with access to a number of specialty companies that work exclusively with Managing General Agents (MGA’s). The agents call us when they have a client whose risk is not insurable with the standard companies they have contracts with.

If I still have my new friend’s attention, I might even continue…..

In reality, we serve the insurance agent as well as the insurance companies that we represent. Our agents look to us to secure the broadest coverage at the best price for their customer and our carriers expect us to underwrite those risks on their behalf profitably (i.e. claim free!). You could say we are the middleman, a wholesaler, a broker, an intermediary or distributor for specialty or hard to place risks in the insurance agency. 

 However, an MGA is so much more than a middleman!

Our underwriters don’t push paper; they underwrite the risks that grace their desks. That means knowing the carriers and which is best suited for a particular risk. An MGA services the agent and insured throughout the life of a policy by answering questions, adding or deleting coverage as needed and acting as a liaison between the company and agent in the event of a loss. An MGA is also responsible for the accounting and financing of the policies that issued and processed. In a nutshell, A Managing General Agency is the all important cream filling between two delicious chocolate cookies.

And what do you do?

 

About the Author : Cathy Baldwin

Cathy has been a member of the J.M. Wilson Team for over twenty years and currently serves as the Marketing Manager.  She oversees the marketing team, which provides marketing support for our underwriting teams in commercial transportation, property/casualty, professional liability, personal lines, and surety.  Cathy loves the variety in her position as marketing manager.  She has the opportunity to work with everyone at J.M. Wilson, our agents, and the companies we represent.  In her free time, Cathy loves to run and is training for the Kalamazoo Half Marathon.  She also enjoys reading and listening to music – her favorites range from Neil Diamond to Led Zeppelin.

Disclaimer :  This article is for informational purposes only.  There is no legal advice being suggested or proffered.  The author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.  This article is the opinion of the author and is not supported or endorsed by J.M. Wilson.  It should not be relied upon and may contain inaccuracies or content may have changed over time, contact your underwriter for the most current and accurate information.  Any comments or responses are the opinions of their authors.  Content on this site is believed to be covered under Fair Use.

Copyright 2011 J.M. Wilson Corporation

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