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Seizing opportunities in the program space

Insurance programs have seen exponential growth, driven by MGA agility, carrier interest, and innovation. Experts break down the drivers of this growth and how brokers can find success in the MGA space

Jennifer Guidry

Great American Insurance Group

Industry experts

Krissy Kyjovsky

Tangram Insurance Services

Christopher Pesce

One80 Intermediaries

Matt Sackett

DOXA

Jennifer Guidry-Burnham is the divisional vice president of business development and marketing for Great American Insurance Group’s alternative markets division, where she leads the strategy and execution for the due diligence of new program business for the division. She has held numerous leadership roles in increasing P&L and organizational responsibility over the past 20 years. Before coming to Great American Insurance Group, Guidry-Burnham spent 15 years at a Fortune 500 investment and insurance company headquartered in Connecticut. She earned a bachelor of science from Louisiana College and an executive MBA from the University of Hartford. Her professional designations include CIC and CRIS.

Great American Insurance Group

Jennifer Guidry

As senior vice president of underwriting at Tangram Insurance Services, Krissy Kyjovsky is responsible for the growth and profitability of Tangram’s core programs, which are comprised of both multi-line and monoline programs serving industries such as social services, energy, personal care, building services, security guards, animal welfare, and a multitude of classes within the contracting space. Kyjovksy helps to launch and grow programs by working with carriers on coverage analysis, risk selection, filings, rate management, and workflow. She is a Bay Area native. She graduated from Dominican University where she earned a degree in psychology and played both soccer and basketball.

Tangram Insurance Services

Krissy Kyjovsky

Chris Pesce is the national programs practice leader at One80 Intermediaries, overseeing in-house binding authority. Previously, he was a principal shareholder and board member at Gowrie Holdings, leading Maritime Program Group (MPG) as president. Under his leadership, MPG’s underwritten premiums grew from $4 million to over $134 million before its sale to One80 in 2019. Pesce serves on the producer council for the American Institute of Marine Underwriters and has held leadership roles with target markets and the Independent Insurance Agents Association of CT. A licensed continuing education instructor, he frequently speaks on MGA operations and marine insurance.

One80 Intermediaries

Christopher Pesce

Matt Sackett brings over 25 years of experience in the MGA space, consistently driving significant growth throughout his career. He has successfully run, launched, and expanded MGAs, building a strong track record of delivering positive results. His expertise spans creating and leading multi-line sales teams, as well as acquiring and growing businesses. Sackett is CEO of DOXA and focuses on strategy and growth for the entire organization.

DOXA

Matt Sackett

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Vault Plus Mortgage and Finance Consultancy

David Merison

“We’ve seen time and time again that program administrators are credible in their niche expertise, and carriers are happy to put that to work, and at the same time have fixed costs in doing so”

Christopher Pesce, One80 Intermediaries

Insurance programs have experienced a remarkable surge in recent years, with data showing a staggering 352 percent leap in the US market between 2010 and 2022. According to the Target Markets Program Administrators Association (TMPAA), the market exceeded $80 billion in 2023, and future estimates point to it soaring above $100 billion. What’s driving this explosive growth? In an Insurance Business TV roundtable discussion, experts pointed to several key trends influencing the program space. Krissy Kyjovsky, SVP of underwriting at Tangram Insurance Services, said the agility of managing general agents (MGAs) is a key factor. “The MGA space offers agility that maybe a traditional carrier can’t offer. MGAs can get programs up and running quickly, some under six months or less,” Kyjovsky said.

Guidry is particularly excited about the potential for embedded insurance, where programs are integrated into the customer experience at the point of sale, pointing to recent offerings from auto manufacturers and retailers. Cyber insurance is another area Guidry believes will see significant growth. “With the growing geopolitical atmosphere, what we’re seeing is tension along with ransomware, which is the usual suspect, but there’s also opportunity on the non-accidental side,” she said. Kyjovsky concurred that the shift toward the excess and surplus (E&S) market will continue, as it offers flexibility to respond to the changing risk landscape. “I think the E&S

Navigating the increasing complexity of programs can be daunting for brokers. The experts offered some valuable advice for brokers operating in this space. Sackett said brokers should get accustomed to seeing more surplus lines paper, as the flexibility it offers can be helpful in solving issues arising from economic conditions and loss activity. “Expect less admitted products and more non-admitted products,” he added. Program administrators, on the other hand, should be proactive in managing liability limits, according to Pesce. Guidry offered a perspective of carriers in her advice to MGAs: “Lean into that expertise, know your data. The

She added that the low cost of entry to reach new customer segments and to tap expertise and an already-established distribution system are attractive draws for insurers. Christopher Pesce, president of the programs division at One80 Intermediaries, agreed and pointed out that program administrators are often well capitalized. “We’ve seen explosive growth in the program industry. I think those trends are going to continue, Pesce said. “We’ve seen time and time again that program administrators are credible in their niche expertise, and carriers are happy to put that to work, and at the same time have fixed costs in doing so.”

market can respond more quickly to increased casualty risk driven by social inflation, tech advancements, as well as growing property risk from natural disasters,” Kyjovsky said. As programs become more complex, the relationship between carriers and MGAs will evolve. Pesce has seen program administrators taking on more in-house capabilities that were once the domain of insurers.

Matt Sackett, CEO of DOXA, said program administrators have done well to enter spaces where traditional carriers have pulled out. “We are seeing MGAs take their fiduciary responsibility to provide good loss results very, very seriously, and investing in that also helps to align them more with carriers willing to support program administrators,” Sackett observed. “I think it’s been a win-win for insureds, carriers, and program administrators.” Jennifer Guidry, divisional VP of business development and marketing at Great American Insurance Group, emphasized the demand for flexibility among carriers is a significant driver in program growth.

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One80 Intermediaries is a leading privately held insurance wholesaler and program manager with over 55 offices across the US and Canada. Offering placement services and binding authority, One80 specializes in property and casualty, financial lines, benefits, life, travel, accident and health, affinity programs, warranty, and specialty coverage. Serving businesses, non-profits, public entities, individuals, and associations, One80 provides access to markets in the US, Canada, Europe, and Asia. Key office locations include Boston, New York, Chicago, Cleveland, Miami, Atlanta, Houston, Dallas, San Diego, Seattle, Toronto, and Montreal.

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M&A Insights 2021

Insurance Business America uncovers the answers to brokers’ biggest questions about mergers and acquisitions, with expert insight from MarshBerry, Baldwin Risk Partners and Relation Insurance

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Trevor Baldwin

Baldwin Risk Partners

Phil Trem

MarshBerry

Timothy J. Hall

Relation Insurance

Gerard Vecchio

MarshBerry

Industry experts

Mashberry

Gerard Vecchio

Relation Insurance

Timothy J. Hall

Mashberry

Phil Trem

Baldwin Risk Partner

Trevor Baldwin

In Partnership with

M&A Insights 2021

Insurance Business America uncovers the answers to brokers’ biggest questions about mergers and acquisitions, with expert insight from MarshBerry, Baldwin Risk Partners and Relation Insurance

Read on

Trevor Baldwin

Baldwin Risk Partners

Phil Trem

MarshBerry

Timothy J. Hall

Relation Insurance

Gerard Vecchio

MarshBerry

Industry experts

Baldwin Risk Partners

Trevor Baldwin

Mashberry

Phil Trem

Relation Insurance

Timothy J. Hall

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Gerard Vecchio

Areas of growth for insurance programs

Published Mar 24, 2025

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Program growth – a ‘win-win’ for insureds, carriers, and MGAs

“Insurers… are wanting more choices in their relationships with MGAs,” Guidry said. "They’re willing to invest time and resources with MGAs, particularly if they have significant expertise and a track record within a particular field.” Looking ahead, the experts see several areas ripe for new program development. Sackett predicted a huge chunk of growth in the program space will come from property and professional liability lines, which include some allied health classes. “I do think we’ll see some people rush in, whether they’re existing program administrators or potentially new

underwriters, to try help solve some of the property problems and capacity issues,” Sackett said. Pesce agreed that professional lines will be a focus but cautioned that carriers may become saturated in that space, leading to rate pressure. “If you’re going to play in the property space as program administrator, you have to bring something unique to the table, a different way of looking at the business,” said Pesce. “I think we’ll continue to see expansion in liability overall, not just in the professional space, but small contractors.” Pesce also sees more potential in the small premium space, with program administrators better able to aggregate and handle small account transactions. “PAs [program administrators] are better at pulling together [small-premium pools] and offering to the carrier as a low-cost way of handling the big book of small transactions because PAs are going to be more nimble and can use technology to drive the per-transaction costs down,” he said.

“We will see some people rush in, whether they’re existing program administrators or potentially new underwriters, to try to help solve some of the property problems and capacity issues”

Matt Sackett, TMPAA

“We want control, we tend to be entrepreneurial, and we want to be nimble, and we want to control our data,” Pesce explained. “By having access to that data directly, it gives us more insights and ultimately enables us to be better underwriters.” Guidry sees this shift as an opportunity for carriers to be more flexible in their relationships. “It’s forcing us to think outside the box in terms of our assessment of what we do well, what are the things that we could be doing better, and is there a lower-cost, easier way of getting those things done through the MGA model,” Guidry said.

“Insurers… are wanting more choices in their relationships with MGAs. They’re willing to invest time and resources with MGAs, particularly if they have significant expertise and a track record within a particular field”

Jennifer Guidry, Great American Insurance Group

Great American Insurance Group’s Alternative Markets Division specializes in mono-line and/or multi-line primary admitted insurance products, with a focus on specialty programs and the small commercial insurance market (also known as business owner’s policies – BOP). Since 2000, the Alternative Markets Division has delivered customized solutions to their customers, establishing a reputation for flexibility, responsive service, and open communication. Policies are underwritten by Great American Insurance Company, Great American Alliance Insurance Company, Great American Assurance Company, and Great American Insurance Company of New York, authorized insurers in all 50 states and the DC. 301 E. Fourth St., Cincinnati, OH 45202

“The E&S market can respond more quickly to increased casualty risk driven by social inflation, tech advancements, as well as growing property risk from natural disasters”

Krissy Kyjovsky,Tangram Insurance Services

The experts agree that embracing technology, particularly artificial intelligence (AI) and machine learning, will be crucial for success in the program space. Kyjovsky believes it’s no longer a question of whether to invest, but rather how to do it smartly. “We’re on that journey, we’re trying to figure out where to begin,” she said. “AI and machine learning, I think, are game-changers.”

Finding success in the MGA market

opportunity to bring new and innovative products to the market and being attractive to a carrier comes down to your data.” Kyjovsky’s parting words of wisdom for brokers were to exercise prudence. “Make sure that you’re aligning yourself with long-standing, consistent program partners that have the track record,” she said. “That limits the volatility and the upheaval caused by (the need to) constantly find replacement coverage.”

When you hear the name Tangram, you may think of a clever geometric puzzle – or a challenge with more than one solution – and either way, you’d be right. Our name was inspired by the concepts of creativity and reinvention, and by the belief that there’s more than one way to solve complex problems, serve customers, and build a world-class business. When you collaborate with Tangram, you step into a risk management think tank. We are a program business builder and distributor, operating differently than most insurance organizations in five notable ways: focus, creativity, access, exclusivity, and experience.

The state of MGAs in 2023

Over

in premium (13% ↑)

MGA premiums written by US insurers accounted for around 9% of total P&C direct premiums

$80 billion

Source: Conning Asset Management

83%

96%

Program business is gearing up for further growth.

of administrators polled plan to introduce new programs in the next two years.

of carriers surveyed plan to add new programs in the next three years.

of carriers surveyed anticipate increasing the amount of premium written in the next three years.

96%

How are programs growing?