Dennis Faggioni
Scottsdale Insurance Company
His goal was to use technology
to do better for the companys agents and brokers.
In most insurance transactions, the customer deals with an insurance agent who in turn deals with one or more insurance companies. There is no middleman between the agent and carrier. There is a separate market strata, however, for providing specialized coverages that standard carriers often dont write. This part of the business uses wholesalersMGAs, MGUs, program managers, and the ones who deal in the largest and hardest accounts, E&S brokers. These wholesalers usually work with insurance carriers devoted to this particular marketplace, and Scottsdale Insurance Company is one of the larger E&S insurers.
A unique attribute of this marketplace is that the wholesalers usually have the pen and actually issue the policies. Carriers are still responsible for developing and filing the rates, rules, and forms (and the compliance issues related to them), but normally dont do the policy issuance. But if a wholesaler can write for multiple carriers, and is doing its own issuance, how does a company like Scottsdale differentiate itself from its competitors?
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