Lloyd Yavener, president and COO of Sutton National Group, believes in the future of delegated underwriting authority. It wasn’t always that way. “MGA was a four-letter word when I first got into the business,” he says on this recording. “It was a broker model, which was to write more insurance, while the underwriter’s goal was to write more business profitability.”
Over time, program administrator and MGA models emerged with “highly sophisticated” underwriting and compliance talent that originated in the traditional insurance market. “It looks just like an insurance company without the balance sheet,” Lloyd says. Moreover, the MGA model has been able to adapt quicker to emerging risks. Sutton writes homeowners in cat-prone areas as well as trucking, contractors, ocean and inland marine, and some other specialty lines. Listen as Lloyd shares his thoughts on leadership and working with others, just like with a well-tuned band.
