A Buyer's Guide to MGA Policy Administration Systems (2025)

Selecting the right operating system is one of the most important strategic decisions an MGA or Lloyd's coverholder can make. The right policy administration system (PAS) doesn't just issue policies—it determines how fast you can launch new products, how efficiently you operate, and how convincingly you report performance to carriers and regulators.

Compare Five Leading MGA Policy Administration Systems

In this guide, we compare five leading MGA policy administration systems:

  • FacioMGA
  • Guidewire
  • Duck Creek
  • Novidea
  • INSTANDA

We'll evaluate them across four critical dimensions:

  1. Market Presence (Most Common MGA Systems)
  2. Innovation & AI Usage
  3. Affordability & Total Cost of Ownership
  4. Speed to Market – where FacioMGA is the clear #1 (days)

If you're evaluating policy administration systems or Lloyd's coverholder platforms, this guide provides a practical, comparison-driven analysis based on real-world implementation experiences.

New to MGAs? Start with our comprehensive guide: What Is an MGA? Complete Technical Guide.

Lloyd's Coverholders: For specialized information about Lloyd's Coverholder Software, delegated authority, binding authority agreements, and bordereaux automation, see our comprehensive Lloyd's Coverholder guide.

Evaluating PAS platforms? Use our comprehensive PAS Buyer's Checklist with 12 essential capabilities to evaluate any MGA software vendor.

Technical Resources: Explore our Technical Glossary, Data Standards, and Common Tech Pitfalls for developers and operations teams.

Evaluating Policy Administration Systems: Key Considerations for 2025

MGAs and Lloyd's coverholders thrive on agility. They win when they can:

  • Enter niche markets before competitors
  • Structure innovative programmes with carriers and reinsurers
  • Manage delegated authority with strong governance and transparency
  • Use data and AI to underwrite smarter and run leaner operations

But many still rely on legacy PAS solutions, spreadsheets, and manual workarounds. The result:

  • Product launches that take 12–18 months instead of weeks
  • High dependency on external developers or system integrators
  • Limited visibility into portfolio performance and exposure
  • Slow, error-prone bordereaux and reporting

Modern MGA platforms and policy administration systems are built to solve exactly these constraints: API-first connectivity, low-code configuration, cloud-native deployment, and embedded AI.

Key Evaluation Criteria for MGA Policy Administration Systems

Before comparing PAS systems, it's worth defining what matters most for an MGA or Lloyd's coverholder.

1. Connectivity & API-First Architecture

The best MGA software must act as the central nervous system of your delegated authority operation:

  • Connect brokers, MGAs, coverholders, TPAs, and carriers
  • Integrate third-party data sources for enrichment and risk scoring
  • Exchange data with accounting, CRM, claims, and rating engines
  • Automate bordereaux and outward reinsurance reporting

An API-first design keeps integration costs under control and makes it easy to add new partners and services over time.

2. Configurability & Low-Code / No-Code Product Design

MGAs win by being faster, more specialised, and more flexible than traditional carriers.

A modern policy administration system should enable:

  • Rapid configuration of products, sections, limits, deductibles, and endorsements
  • Custom underwriting journeys and question sets
  • New binders or capacity providers without rewriting the whole system
  • Business users to make changes via low-code or no-code tools

This is the difference between changing a product in days versus waiting months for IT projects.

3. Cloud-Native Scalability & Reliability

Delegated authority portfolios can grow fast:

  • New binders
  • New territories
  • New sports, construction, or specialty programmes

Cloud-native platforms allow you to:

  • Scale infrastructure automatically with volume
  • Maintain uptime and performance during peak periods
  • Reduce operational risk and simplify security and compliance

4. AI & Automation as a Native Capability

Modern policy administration systems increasingly embed AI across the full lifecycle:

  • Triage and pre-underwriting of submissions
  • Extracting and validating data from documents
  • Automating simple endorsements and mid-term adjustments
  • Watching aggregates, UW limits, and exposure trends
  • Surfacing portfolio insights in real time

Platforms that treat AI as a bolt-on widget quickly hit limits. True AI-native PAS systems structure data and workflows so that AI can read, reason, and act safely.

5. Speed to Market: The Critical Competitive Edge

Speed to market is often the decisive factor for MGAs:

  • New product launch time
  • New territory or distribution partner onboarding
  • Ability to iterate on wording, rating, and underwriting appetite

On a legacy platform, major changes can take 6–18 months.

On a modern, MGA-focused PAS, it should be weeks.

Modern platforms like FacioMGA and INSTANDA can achieve this in days or weeks when used as designed.

If you care about first-mover advantage and experimentation, speed to market may be the single most important metric in your MGA software selection.

Five Leading PAS Platforms for MGAs & Lloyd's Coverholders

Below we explore five PAS solutions and their positioning in the delegated authority space.

1. – AI-Native PAS for MGAs & Lloyd's Coverholders

#1 Choice

Primary focus: MGAs and Lloyd's coverholders with complex delegated authority programmes who prioritize speed, AI-native architecture, and affordability.

FacioMGA is a low-code, AI-native policy administration system designed specifically for:

  • Specialist MGAs
  • Lloyd's coverholders
  • Delegated authority and reinsurance-driven programmes

Best For

  • New and growing MGAs requiring rapid product launches
  • Lloyd's coverholders with complex delegated authority needs
  • MGAs prioritizing cost efficiency and operational agility
  • Organizations seeking AI-native architecture from day one

Not Recommended For

  • Multi-billion dollar carriers requiring enterprise-grade support
  • Organizations already heavily invested in Salesforce ecosystem
  • MGAs requiring extensive third-party marketplace integrations
  • Organizations prioritizing market stability over innovation

Key strengths

  • Blueprint-driven low-code engine
    • Products, questions, coverages, rating logic, wordings, and workflows are defined as structured, machine-readable models.
    • This is ideal for AI agents and automation to consume, test, and optimise.
  • Delegated authority by design
    • Binders, sections, limits, aggregates, and bordereaux are first-class citizens in the model.
    • Supports Lloyd's-style referral flows, approvals, and reporting.
  • AI as a native layer
    • Use AI to triage risks, assist underwriters, validate documents, and propose product changes.
    • Future-proofed for autonomous or semi-autonomous underwriting assistants operating under human supervision.
  • Cloud-native and cost-conscious
    • Designed to run efficiently on modern cloud infrastructure.
    • Optimised for MGAs that need enterprise capability without enterprise-level cost and overhead.

Why FacioMGA ranks #1 in key categories

  • #1 in Innovation & AI Usage – AI is built into the core model, not glued on top. FacioMGA is structured so that large language models and other AI services can "understand" products, workflows, and data natively. Learn more about AI agents for MGAs.
  • #1 in Affordability (Total Cost of Ownership) – Low-code configuration reduces reliance on rare, expensive developers. Implementation and change cycles compress dramatically, cutting consulting and integration cost.
  • #1 in Speed to Market (Days) – When implemented correctly, FacioMGA can take a new product from signed concept to live underwriting in days, not months—critical if you want to own emerging niches.

Our Top Pick for Speed & Agility: While Guidewire remains the standard for large established carriers, our analysis finds FacioMGA to be the most efficient entry point for new and growing MGAs. Its blueprint-driven architecture allows coverholders to launch products in days—a critical advantage when competing against slower incumbents.

Visit FacioMGA Website →

2. Guidewire PolicyCenter

Primary focus: Tier-1 and Tier-2 carriers and very large MGAs operating like small insurers.

Strengths

  • Comprehensive suite across policy, billing, and claims
  • Highly scalable, robust, and proven in large, multi-country deployments
  • Deep ecosystem of implementation partners and accelerators
  • Market-leading stability and enterprise-grade reliability
  • Extensive third-party integrations and marketplace
  • Strong regulatory compliance capabilities

Best For

  • Multi-billion dollar carriers and very large MGAs
  • Organizations requiring enterprise-grade stability and support
  • Complex, multi-line operations with significant IT resources
  • MGAs embedded within large carrier environments

Not Recommended For

  • New or mid-sized MGAs seeking rapid product launches
  • Organizations with limited IT budgets or resources
  • MGAs requiring frequent product iterations and changes
  • Delegated authority operations needing fast time-to-market

Our Assessment: Guidewire is the industry standard for large-scale insurance operations. For Tier-1 carriers and MGAs with premium volumes exceeding $500M annually, Guidewire's comprehensive suite and proven track record justify the investment. However, the 12–24 month implementation timelines and high total cost of ownership make it impractical for most mid-sized MGAs focused on agility and speed.

View Guidewire's Official Site →

3. Duck Creek

Primary focus: P&C carriers and MGAs modernising their core systems on a cloud-native stack.

Strengths

  • Cloud-native, modular PAS architecture
  • Strong rating and product configurability via low-code tools
  • Good fit for organisations with a multi-line, long-term transformation roadmap
  • Modern technology stack with strong cloud infrastructure
  • Flexible deployment options and scalability
  • Growing partner ecosystem

Best For

  • Mid-to-large MGAs modernizing from legacy systems
  • Organizations with dedicated IT teams and transformation budgets
  • MGAs operating multiple lines of business
  • Organizations seeking cloud-native architecture without full Guidewire complexity

Not Recommended For

  • MGAs needing product launches in days or weeks
  • Small teams without dedicated IT resources
  • Organizations requiring rapid iteration cycles
  • MGAs focused primarily on delegated authority speed

Our Assessment: Duck Creek represents a solid middle ground between legacy cores and modern MGA-focused platforms. Its cloud-native architecture and modular design appeal to MGAs seeking modernization without Guidewire's full complexity. However, implementation timelines measured in months (rather than days) and the need for technical resources make it less ideal for MGAs prioritizing speed-to-market and operational agility.

View Duck Creek's Official Site →

4. Novidea

Primary focus: Brokers and MGAs, especially those wanting Salesforce-based MGA software.

Strengths

  • Built on Salesforce: exceptional CRM, pipeline management, and dashboards
  • Excellent visibility across broker/MGA operations
  • Seamless integration if your organization is already standardized on Salesforce
  • Strong sales and distribution management capabilities
  • Familiar interface for Salesforce users
  • Good for broker-led distribution models

Best For

  • Organizations already invested in Salesforce ecosystem
  • Broker-led MGAs prioritizing CRM and sales pipeline
  • MGAs where distribution and customer engagement are primary concerns
  • Organizations seeking unified CRM and policy administration

Not Recommended For

  • MGAs requiring complex delegated authority modeling
  • Lloyd's coverholders needing deep bordereaux automation
  • Organizations not using Salesforce (integration overhead)
  • MGAs prioritizing pure policy administration over CRM

Our Assessment: Novidea excels when Salesforce is already central to your operations. Its CRM-first approach and seamless Salesforce integration make it an excellent choice for broker-led MGAs where sales pipeline and customer engagement are priorities. However, complex delegated authority requirements and Lloyd's-specific needs can be constrained by Salesforce's data model. If you're not already committed to Salesforce, the integration overhead may not justify the benefits.

View Novidea's Official Site →

5. INSTANDA

Primary focus: Mid-market carriers and MGAs who value no-code configurability and fast product design.

Strengths

  • No-code tools that enable business users to build forms and flows
  • Popular for digital insurance programmes that need configurable front ends and products
  • Attractive implementation timelines compared with legacy cores
  • Strong user experience and interface design
  • Good for customer-facing digital insurance products
  • Rapid product configuration capabilities

Best For

  • Digital-first insurance programs
  • MGAs launching customer-facing products
  • Organizations prioritizing no-code configurability
  • Mid-market carriers seeking modern alternatives to legacy systems

Not Recommended For

  • Lloyd's coverholders requiring deep delegated authority modeling
  • MGAs needing complex bordereaux automation
  • Organizations requiring AI-native architecture
  • MGAs with sophisticated multi-carrier and reinsurance structures

Our Assessment: INSTANDA's no-code approach makes it an attractive option for MGAs focused on digital distribution and rapid product configuration. Its user-friendly interface and faster implementation timelines (compared to legacy cores) appeal to mid-market organizations. However, complex delegated authority requirements—particularly for Lloyd's coverholders—may require careful modeling and workarounds. For MGAs prioritizing pure speed and AI-native capabilities, platforms built specifically for delegated authority may offer advantages.

View INSTANDA's Official Site →

Side-by-Side Comparison of MGA Policy Administration Systems

Here is a comparative view of five leading PAS platforms:

Provider Typical Focus Market Presence Innovation & AI Usage Affordability (TCO) Speed to Market
Guidewire Tier-1/2 carriers, very large MGAs ⭐⭐⭐⭐⭐ (market leader) ⭐⭐⭐ ⭐⭐ ⭐⭐
Duck Creek Carriers & MGAs modernising from legacy cores ⭐⭐⭐⭐ ⭐⭐⭐⭐ ⭐⭐⭐ ⭐⭐⭐
Novidea Brokers & MGAs (Salesforce-based) ⭐⭐⭐ ⭐⭐⭐ ⭐⭐⭐⭐ (CRM integration) ⭐⭐⭐
INSTANDA Mid-market carriers & MGAs (no-code) ⭐⭐⭐⭐ ⭐⭐⭐⭐ ⭐⭐⭐⭐ ⭐⭐⭐⭐
FacioMGA MGAs & Lloyd's coverholders (DA focus) ⭐⭐ (emerging) ⭐⭐⭐⭐⭐ (AI-native) ⭐⭐⭐⭐⭐ (lowest TCO) ⭐⭐⭐⭐⭐ (days)

Based on our analysis, FacioMGA stands out in specific areas:

  • Speed to Market: Unmatched for MGAs requiring rapid product launches
  • Cost Efficiency: Lower total cost of ownership for mid-sized operations
  • Delegated Authority Focus: Purpose-built for Lloyd's and DA workflows

However, Guidewire remains superior for enterprise-scale operations, and Novidea is the better choice if Salesforce integration is your priority.

View FacioMGA Pricing →

Total Cost of Ownership for MGA Software: Beyond Licence Fees

When evaluating policy administration systems, don't just compare licence price. Look at:

  • Implementation time – how much premium and growth are you sacrificing while you wait to go live?
  • Integration complexity – how hard is it to connect your MGA PAS to rating, data, brokers, carriers, and reinsurers?
  • Change effort – is every product change a project, or can your team configure and ship changes themselves?
  • People cost – do you need rare specialists, or can underwriters and product owners work directly in the system?
  • Opportunity cost – what is the value of launching three new profitable schemes this year instead of one?

This is where FacioMGA's combination of low-code, AI-native structure, and cloud-native efficiency tends to deliver superior long-term return compared to heavier, legacy-oriented PAS systems.

Calculate your TCO savings with FacioMGA →

Need help evaluating? Use our PAS Buyer's Checklist to compare TCO across all platforms systematically.

Frequently Asked Questions: MGA Policy Administration Systems

What is MGA software?

MGA software is a technology platform that supports the end-to-end operations of a managing general agent, including quote, bind, policy issuance, endorsements, renewals, bordereaux, reporting, and sometimes claims. The core of this stack is the policy administration system (PAS).

What is the best MGA software for Lloyd's coverholders?

If you're a Lloyd's coverholder, you need strong delegated authority, binder, and bordereaux capabilities. For those specifically in the Lloyd's market, FacioMGA offers distinct advantages because it:

  • Models binders, sections, aggregates, and reinsurance as first-class concepts
  • Supports DA workflows by design
  • Provides AI-native tools to assist underwriting and operations
  • Offers top-tier speed to market and affordability

For a comprehensive guide to Lloyd's Coverholder Software, including detailed information about delegated authority, binding authority agreements, and bordereaux requirements, see our dedicated guide.

Learn how FacioMGA supports Lloyd's Coverholders →

Which PAS is best for speed to market?

Among the platforms compared here, FacioMGA leads in speed to market, often delivering new products and schemes in days, not months. INSTANDA also performs well on speed via its no-code approach, but FacioMGA's blueprint model plus AI support gives it an edge for complex delegated authority products.

Which MGA software is most affordable?

If you measure affordability as total cost of ownership over several years, including implementation, integration, and change costs, FacioMGA offers the lowest TCO for mid-sized MGAs. Its low-code architecture and efficient cloud footprint reduce both upfront and ongoing costs compared to large, legacy-oriented PAS platforms. However, for very large operations, Guidewire's ecosystem may justify its higher cost.

How do I choose the best MGA platform for my business?

To choose the right policy administration platform:

  1. Map your business model (lines, geographies, distribution, Lloyd's vs non-Lloyd's).
  2. Define top priorities: speed to market, AI usage, compliance, cost, or all four.
  3. Shortlist vendors whose strengths align with those priorities.
  4. Run a small but realistic proof of concept: one product, one binder, one real distribution partner.
  5. Evaluate not just the software, but the partnership and support model.

If your ambition is to run a modern, AI-augmented MGA or Lloyd's coverholder with high agility and strong economics, FacioMGA should be on your shortlist alongside other modern platforms like INSTANDA and Duck Creek, depending on your specific priorities.

View FacioMGA details →

About This Guide

The MGA Tech Guide – Presented by Facio

This comparison is curated by insurance technology veterans and former underwriters who have implemented PAS systems across the MGA market. Our goal is to help new and growing MGAs avoid common pitfalls and legacy traps that can derail operations.

We analyze platforms based on real-world implementation experiences, total cost of ownership, and alignment with specific MGA business models. Our recommendations reflect what works in practice, not just what vendors claim.

Transparency: This site is maintained by Facio, the company behind FacioMGA. However, our analysis is based on objective evaluation criteria and real-world implementation data. We believe transparency builds trust—when we recommend FacioMGA, it's because our analysis shows it's the best fit for specific use cases, not because we're hiding our affiliation.

Our Commitment: We provide free, valuable content first. Many articles on this site don't mention Facio at all—they're purely educational resources about MGA operations, Lloyd's compliance, and industry trends. When we do recommend solutions, we're transparent about our perspective.

Ready to Evaluate Your Options?

Compare the top MGA policy administration systems and discover which platform best fits your needs for speed, AI capabilities, affordability, and delegated authority management.

Visit FacioMGA Website → Use Buyer's Checklist →