VIEWS: 7 PAGES: 4 CATEGORY: Business & Economics POSTED ON: 6/25/2010
When dealing with their managing general agency (MGA) partners, retail agents haven't had many self-service capabilities available to them. In 2007, industry veteran, Jake Hampton, launched Virtual MGA, a Web-based trading platform that he developed to facilitate transactions between an MGA and a retail agent. John Griffin is president of South Texas General Insurance Agency which works with some 2,000 retail agents in Texas. Griffin says he was looking for a way to enable his retail agents to get quotes from his agency via the Internet and if the risk fit the parameters, get a binder and complete the transaction online. Virtual MGA could help him do just that and he went live with them in early 2008. He says he is now able to provide his retailers with "instant gratification," which they appreciate. Jake Hampton summarizes by saying that Virtual MGA's unique value proposition is that it can manage the entire transaction.
A UNIQUE VALUE PROPOSITION Nancy Doucette Rough Notes; Oct 2009; 152, 10; Docstoc pg. 114 Reproduced with permission o
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