Promises to help companies control costs
insurance news
Written by Jonalyn Cueto
Holmes Murphy, an employee-owned insurance brokerage, announced the launch of a new managing general agent (MGA), Innovative Program Solutions (IPS). The new company is designed to create specialized insurance programs to reduce costs and loss rates for businesses in a variety of industries through customized solutions and a team of industry veterans.
Tim Anders, who has more than 35 years of experience in underwriting and insurance program management, will lead IPS as president. Mr. Anders previously worked for insurance companies including Ryan Specialty, Breckenridge Insurance, Zurich, and Atlantic Mutual. Holmes Murphy said Anders' experience in designing and implementing insurance programs aligns with the company's vision to drive innovation and provide customers with tailored insurance solutions.
“Innovative is not just in our name, it is in our essence,” says Anders. “Our team and extensive network of insurance and industry experts create best-in-class programs for our broker and carrier partners, reducing costs and providing unparalleled expertise. We are committed to
Programs tailored to specific business needs
IPS aims to work with insurers and brokers to create programs that address their specific business needs. The aim is to develop solutions that help businesses reduce expenses and loss rates. Holmes-Murphy emphasized the importance of focusing on broad, targeted growth areas to provide broker partners with new opportunities and access to the latest technology and tools.
“The program business is an industry that generates more than $80 billion in premiums each year, most of which is paid by members in our target market,” Anders said. “Airlines are increasingly turning to MGAs like IPS to provide expertise, innovation and effective underwriting approaches in specific business areas to support growth and entry into new markets. With the launch of IPS, we are working in close partnership with our carrier partners to customize unique insurance solutions to our customers' needs and positively impact risk assessment and management. I believe I can give.”
Tom Stewart, president of Holmes Murphy's PLUS division, pointed to the importance of customization and the resources available through IPS. “We will provide dedicated resources to help ensure all programs are tailored to each business, while working to control costs,” Stewart said.
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