NU Online News Service, March 15, 10:30 a.m. EDT
MarketScout, the Dallas-based insurance exchange, has announced that former Crump Inc. chief executive officer Glenn Hargrove has joined the firm to launch MSW--MarketScout Wholesale.
The new operation will combine wholesale brokerage and MGA services with new distribution technology.
MarketScout said the MSW wholesale model will capitalize on the innovations of MarketScout, the leadership of Mr. Hargrove and the vision of doing wholesale business in a new format, bringing better service and capabilities to retail agents and excess and surplus lines carriers.
MSW will also provide wholesale solutions to The MarketScout Exchange. Mr. Hargrove will serve as president of MSW and on the MSW board of directors.
Richard Kerr, chief executive officer of MarketScout, explained, "MSW was formed because of the unique opportunity existing to expand wholesale operations and to provide a more robust offering of E&S solutions to thousands of agents using The MarketScout Exchange."
He said Mr. Hargrove would use his experience to "build MSW into a real force by blending a distinct operational strategy with MarketScout's cutting-edge distribution technology."
"Glenn's unique approach to wholesaling coupled with exceptional industry talent will be an invaluable asset to every agent who accesses MSW directly or through The MarketScout Exchange," said Mr. Kerr.
Mr. Hargrove expressed the view that "there is an unprecedented demand for an intermediary who can offer a true alternative to the same, old wholesaler model."
MSW, he explained "is built from the ground up to deliver meaningful value in the market dynamics of today and tomorrow. We have the real advantage of not being hamstrung by 20-year-old business models, outside owners with alternative agendas, or burdensome legacy issues."
Mr. Hargrove noted that MSW would be starting with the foundation of MarketScout, which he called "an innovation leader in our industry for over a decade."
Information on MSW is online at www.marketscout.com/msw.
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