MGA Systems
MGA Systems is a purpose-built policy administration platform for U.S. Managing General Agents, MGUs, wholesalers, and program administrators, centralizing quoting, underwriting, accounting, claims, and reporting under one subscription system. It operates as a wholly-owned product brand of Vertafore, Inc., following Vertafore's 2020 acquisition of IMS.
- Company typePrivate
- Founded2020
- HeadquartersMelville, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What MGA Systems does
MGA Systems is a purpose-built policy administration system targeting Managing General Agents (MGAs), Managing General Underwriters (MGUs), wholesalers, and program administrators in the U.S. insurance market. The product centralizes and automates the full insurance lifecycle — quoting, underwriting workflows, policy binding, invoicing and issuance, automated renewals and endorsements, claims management, accounting, and custom reporting — into a single integrated system backed by open APIs, an open architecture that exposes both data and code to customers, and native support for international currencies, addresses, and phone numbers. Technical underpinnings are a client-server architecture with secure database connectivity for remote users and web-based APIs for integration with rating engines, carrier systems, and third-party platforms. SOC 2 Type II certification (inherited via parent Vertafore) and a security posture suitable for handling insured and carrier data round out the platform characteristics.
MGA Systems was originally developed as Insurance Management Systems (IMS) and was acquired by Vertafore, Inc. in 2020, subsequently rebranded to MGA Systems. It operates today as a wholly-owned product brand and operating subsidiary of Vertafore, a private insurance technology company headquartered in the United States. The unit is small (11–50 employees per firmographic inputs) and monetizes through subscription-based enterprise licensing with quote-based pricing on annual billing cadences; pricing details are not publicly disclosed and require direct sales engagement. Commercial distribution is anchored by Vertafore's enterprise field sales force (phone: 1.800.444.4813), the Vertafore Orange Partner reseller and integration ecosystem, and the NetVU insurance industry association network. AI capabilities such as ReferenceConnect AI for Carriers and MGAs (knowledge retrieval) and the related Surefyre underwriting workbench are positioned as complementary Vertafore products rather than embedded features of MGA Systems itself.
MGA Systems firmographics
Firmographics- Name
- MGA Systems
- Legal name
- Vertafore, Inc.
- Website
- https://mgasystems.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- MGA Systems is a purpose-built policy administration platform for U.S. Managing General Agents, MGUs, wholesalers, and program administrators, centralizing quoting, underwriting, accounting, claims, and reporting under one subscription system. It operates as a wholly-owned product brand of Vertafore, Inc., following Vertafore's 2020 acquisition of IMS.
- Ownership category
- akta.pro rank
MGA Systems industry classification
Industry- Product category
- Insurance Policy Administration Software
- NAICS
- Computer Systems Design and Related Services (54151), Computer Systems Design Services (541512)
- SIC
- Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- Insurance Program Administration & MGA/MGU Services (FSAEADAK)
Keywords
Where MGA Systems is headquartered
LocationHeadquarters
- HQ city
- Melville
- HQ country
- United States
- HQ region
- North America
Markets served
MGA Systems business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Software Licensing and Subscription: MGA Systems operates as a policy administration system software providing purpose-built solutions for MGAs. Revenue is generated through software licensing with ongoing support and enhancements as part of Vertafore's product portfolio.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise licensing for MGAs |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
MGA Systems product offering
Product offeringCore offering
MGA Systems is an award-winning policy administration system purpose-built for Managing General Agents (MGAs), Managing General Underwriters (MGUs), wholesalers, and program administrators. It centralizes and automates insurance processes including quoting, underwriting workflows, policy issuance, automated renewals, endorsements, rating engine integration, document generation, general ledger management, integrated claims management, and carrier connectivity. The product is delivered via open-architecture, client-server infrastructure with open APIs for ecosystem integration and full customization of data and code.
Product overview
MGA Systems is a single, unified policy administration system product — not a platform-plus-modules architecture. The core offering is MGA Systems itself, which bundles quoting and underwriting workflows, policy issuance, accounting, claims management, and reporting capabilities into one integrated system. Related products from the same parent company (Vertafore) include Surefyre (AI-powered underwriting workbench), NetRate (ISO rater), and ReferenceConnect AI for Carriers & MGAs (knowledge management). These products are presented as complementary solutions within the Vertafore MGA ecosystem rather than separate modules of a single platform.
Differentiator
Problem solved
Functional benefit
Products and services
- MGA Systems Award-winning policy administration system designed for Managing General Agents (MGAs), Managing General Underwriters (MGUs), wholesalers, and program administrators. It centralizes and automates insurance processes including quoting, underwriting workflows, policy issuance, automated renewals, endorsements, rating engine integration, document generation, general ledger management, integrated claims management, and carrier connectivity, delivered via open-architecture client-server infrastructure with open APIs.
Quantifiable outcome
- Quickly launch new products and introduce new lines of business
- +2 more outcomes
Companies that use MGA Systems
Customer profileSegments4 records
Ideal customer profiles1 record
MGA Systems technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature8 records
MGA Systems partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- ARAGcoreMGA Umbrl partnered with ARAG to offer legal expenses insurance and home emergency cover, integrating ARAG's policies into its household product range. The partnership includes access to ARAG's digital legal services platform, supporting MGA's digitally-led insurance propositions.
- NetVUminorAssociation and network partner for Vertafore connecting insurance professionals with MGA Systems solutions.
Scale indicators1 record
Recent moves6 records
Expansion highlights5 records
MGA Systems competitors and assessment
Company assessmentDirect peers
- Duck Creek Technologies: Duck Creek offers a cloud-native suite of policy, billing, and claims solutions that compete for MGA and specialty insurer business with modern SaaS delivery, positioning it as a direct rival to MGA Systems.
- OneShield: OneShield provides policy administration, billing, and claims software specifically designed for MGAs, MGUs, and insurers, making it the closest direct competitor to MGA Systems in the MGA-focused PAS segment.
- EIS Group: EIS Group provides an enterprise insurance platform with policy administration, billing, and claims capabilities used by carriers and MGAs, overlapping with MGA Systems on core PAS functionality and customization depth.
- Socotra: Socotra delivers a cloud-native, API-first insurance core platform used by MGAs and carriers to launch and scale products quickly, directly competing with MGA Systems on speed-to-market and configurability.
Broad incumbents
- Insurity: Insurity offers insurance core systems and analytics used by P&C insurers and MGAs; its Policy Decisions and PAS suite overlaps with MGA Systems' policy, billing, and claims capabilities at a broader carrier-focused scale.
- Guidewire: Guidewire is the dominant incumbent PAS provider for P&C insurers, with a suite that increasingly targets specialty and MGA-like carriers, making it a broad competitor to MGA Systems at the larger end of the market.
- Applied Systems: Applied Systems is a large insurance software provider focused on agencies and brokerages; its portfolio overlaps with MGA Systems at the distribution and management layer for insurance entities.
- Sapiens International: Sapiens offers insurance core systems for P&C, L&A, and reinsurance including policy administration and billing, competing for similar carrier and program-administrator customers as MGA Systems.
- Majesco: Majesco provides insurance software for P&C and L&A carriers including policy, billing, and claims platforms; its P&C suite targets a similar MGA-adjacent buyer base with cloud-based delivery.
Emerging players
- SuranceBay: SuranceBay provides agency and MGA-facing software for licensing, appointments, and producer management; while more compliance-focused than MGA Systems, it serves a similar MGA buyer and complements the broader MGA tech stack.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
MGA Systems social profiles
Digital presenceMGA Systems compliance and trust
Trust signalCompliance1 record
MGA Systems financial estimates
Financial estimateRevenue estimate
Valuation estimate
MGA Systems leadership team
Management profileNumber of profiles
MGA Systems funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MGA Systems M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MGA Systems
What does MGA Systems do?
MGA Systems is an award-winning policy administration system purpose-built for Managing General Agents (MGAs), Managing General Underwriters (MGUs), wholesalers, and program administrators. It centralizes and automates insurance processes including quoting, underwriting workflows, policy issuance, automated renewals, endorsements, rating engine integration, document generation, general ledger management, integrated claims management, and carrier connectivity. The product is delivered via open-architecture, client-server infrastructure with open APIs for ecosystem integration and full customization of data and code.
Is MGA Systems a public or private company?
MGA Systems is a private company. It is classified as corporate owned and is currently operating.
When was MGA Systems founded?
MGA Systems was founded in 2020. It employs 11 to 50 people.
Where is MGA Systems based?
MGA Systems is headquartered in Melville, United States, in the North America region.
How does MGA Systems make money?
One revenue line is on record: software Licensing and Subscription.
Who are MGA Systems's main competitors?
Direct peers on record are Duck Creek Technologies, OneShield, EIS Group and Socotra. Broad incumbents are Insurity, Guidewire, Applied Systems, Sapiens International and Majesco. SuranceBay is listed as an emerging player.
Does MGA Systems have an API?
Yes. Open APIs allow easy integration with online portals, rating platforms, and other third-party applications. The web-based API for claims allows client customization and integration with external systems. MGAs can leverage the open API to connect tools they need for a complete, end-to-end ecosystem.
What industry is MGA Systems in?
MGA Systems's product category is Insurance Policy Administration Software. Its primary akta.pro industry code is FSAEADAK, Insurance Program Administration & MGA/MGU Services. Its NAICS code is 54151 and its SIC code is 7372.