Welcome to another episode of Perspective First, where A&M experts explore the latest trends and developments in the financial services sector.

In this episode, A&M host David Carey speaks with guest Dan Grayzel, Head of Corporate Development and Strategy at Ascendex, on what it takes to build a Managing General Underwriter (MGU) from the ground up and how to launch in today’s market.

Key Points:

• The ultimate challenge is that starting an MGU is a blank state and there is hardly any legacy to follow
• There are multiple phases to consider and plan:
  • Designing and building:
    • Must define your strategy blueprint, detailed business plans and requirements, financial models, and prospective timelines
    • Program strategy is key, especially around underwriting
    • Must be flexible and iterative – how do you build and expand your offering verticals while focusing on margarin and operating targets, EBIDTA, expense base, and technology and scale of requirements
    • Technology – do not stray from speed to market, data analytics, underwriting intelligence, claims insights, and end-to-end efficiencies
• Launching:
  • Ensure that your program strategy, people, and technology is sustainable to long-term value to market
  • Present your MGU as a business case so that there is belief and backing of what you are launching
  • Obtain capacity from the general markets
• The important role of partnerships to ensure success

Listen to the full episode now.