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MGAs Swim Against Market Currents With Technology, Expansion Strategies

A year after exporting his five-minute binding model for small accounts to California, a North Carolina managing general agent, confronting the realities of the 2008 market, is sharing his service

By Susanne Sclafane | Updated on October 12, 2008

A year after exporting his five-minute binding model for small accounts to California, a North Carolina managing general agent, confronting the realities of the 2008 market, is sharing his service expertise with competitors. Meanwhile, up in Michigan, another MGA is buying similar technology and expanding his business to London and beyond.

Tap Johnson III remains passionate about his firm’s process for binding small policies during a five-minute phone call. But the phone is no longer ringing off the hook, he readily admits. He noted that one strategy his MGA has put in place this year to offset market-driven revenue declines is to be more diligent about letting customers know that the same five-minute process works for large accounts as well.

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