ITC DIA Europe

LIH: Empowering Effortless Insurance Management with 24MGA

Written by Jolijn Schalkwijk on May 27, 2024

In the ever-evolving landscape of insurance management, the role of Managing General Agents (MGAs) stands out as a vital bridge between insurers and policyholders. As intermediaries with the authority to underwrite insurance policies on behalf of insurers, MGAs play a pivotal role in streamlining the insurance process and empowering brokers to effectively market and distribute insurance policies within specific countries.

Traditionally, MGAs have had to rely on multiple systems to manage different aspects of insurance distribution, leading to inefficiencies. LIH addresses these critical challenges by providing an all-encompassing platform that facilitates efficient policy management, from issuance to financial handling. LIH consolidates these functions into a single platform called 24MGA, which streamlines the entire process and significantly reduces operational complexity. With a mission of “Empowering Effortless Insurance Management,” the platform is committed to driving innovation and excellence in the insurance industry.

LIH’s solutions are tailored specifically for insurance professionals looking to streamline operations and enhance service delivery without the overhead of traditional insurance models. By focusing on these specific needs, LIH empowers its users to focus more on customer service and less on administrative tasks, driving better business outcomes in the highly competitive insurance landscape. The platform is designed to work directly with insurers by allowing MGAs to underwrite and manage policies effectively on their behalf, suggesting active business relationships with insurers and opening business opportunities in new markets.

How it works

24MGA is a comprehensive platform that simplifies and enhances insurance policy management. From policy underwriting to financial management, it offers an end-to-end solution for Managing General Agents (MGA) within a single platform. From user management with customisable access levels, to detailed viewing and editing capabilities, and financial management tools, the platform provides MGAs with the tools they need to navigate the complex world of insurance management with ease. All these features enable MGAs to manage their tasks more efficiently, all within one integrated system. This model is not common among traditional MGAs that usually use fragmented systems, so 24MGA makes the difference.

Who is LIH?

Since its founding in 2004, Life Is Hard (LIH) has positioned itself as a key technology partner for SMEs and the insurance sector. The journey began under the name KL Software, where it created impactful IT solutions. Over the years, the company transitioned into Life Is Hard, reflecting its broader mission to tackle more complex challenges in the technologies for the insurance industry and for the organisations’ digital transformation landscape.

Life Is Hard continues to innovate in the insurance market through its 24MGA platform which provides the tools for managing general agents and insurers to operate and distribute policies in any market.

“Although activities are becoming increasingly automated and Artificial Intelligence is gaining ground, the human component remains an essential foundation for the growth of LIFE IS HARD.”

Cătălin Chiș, CEO, LIH
Amsterdam 12-13 June

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