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The MGIS Difference

Specialized Insurance Solutions for Medical Professionals

Providing the insurance physicians expect for more than 45 years.

Our company has grown and prospered by focusing on the simple notion that physicians and other medical professionals’ insurance needs are unique, and providing the specialized solutions and service they expect.

 

Who we are

The MGIS Companies, Inc. is a leading national insurance program manager with deep experience and expertise in building, managing and servicing specialized programs for medical professionals. We partner exclusively with A+ rated insurance carriers whose financial strength can provide maximum safety and stability for our clients.

We focus on providing group disability and life, and medical-professional liability insurance solutions for medical groups of all sizes and specialties, including new and emerging structures (Accountable Care Organizations, Practice Management Organizations, etc.) with unique group insurance requirements.

With a rich tradition of service excellence, MGIS works exclusively through local brokers and benefit advisors to provide the ultimate in personalized, physician-focused insurance services.

What We Do

What We Do

MGIS is an insurance program manager serving specialized healthcare professionals.

MGIS was formed in 1969 to fill an un-met need. Physicians were beginning to join group practices. There was no group disability product for physicians. MGIS had to design this product and find an insurer to back it. Since then, MGIS has expanded is capabilities and expertise around managing the group long-term disability, medical-professional liability, and other specialty lines of insurance for physicians.

Our Business Scope

Our Business Scope

MGIS now does the following depending upon the insurer and line of business:

  • Product design
  • Underwriting
  • Policy issuance
  • Policyholder service and billing
  • Client, broker, and insurer accounting
  • Broker management
  • Claims coordination

Why We've Grown

Why We’ve Grown

Why has MGIS grown over the years? First, MGIS has worked hard to deliver value to its clients. Second, MGIS’ program manager (MGA) business model has “built-in” benefits for its specialty physician clients as well as its insurer and broker partners:

  • Benefits to clients:
    • Expertise and focus.
    • Product innovation.
    • Stability. The impact of carrier changes is minimized.
  • Benefits to brokers:
    • Stability. Even if the insurer changes, the MGA maintains the service and broker relationship.
  • Benefits to insurer:
    • Access to attractive lines of business
    • Access to specialized brokers.
    • Avoid infrastructure investment
    • Underwriting and administrative expertise
      • MGA composite loss-ratio is  7% lower than the commercial insurance industry[1]
    • Established business model. In 2012, P&C insurers wrote $25.7 billion in premiums[2] through MGAs. If life & health insurers are included, this figure is much higher.

[1] “The World of MGAs: A Look at the MGA Specialists,” Conning, Inc., 2014, p. 12.
[2] “The World of MGAs: A Look at the MGA Specialists,” Conning, Inc., 2014, p. 15.

Gold Standard Partners

Providing the finest insurance solutions for physicians requires expertise. We partner with some of the strongest, most experienced companies in the business to continue to bring you the best solutions available.

Sun Life Financial

sun_life_logoMGIS/Sun Life Physician Group Disability Insurance policies are all backed by the insurance issuing companies of Sun Life Financial.

Together, MGIS and Sun Life Financial provide comprehensive physician group benefit plans through a combination of feature-rich products, physician group expertise and outstanding service.

Known for its financial strength and international scope, Sun Life has provided group insurance in the U.S. since 1924, and is the 7th largest insurance company in North America.¹

Sun Life Financial enjoys independent ratings that place it at the top of the financial sector in North America. The company has maintained an A credit rating for financial strength in good times and bad, and has never accepted government bailout funds.

Sun Life ratings statement (PDF)

*Read for Important Disclosures

  1. Based on market capitalization data as of March 31, 2014 compiled by Sun Life Financial using data provided by Thompson Reuters.

Group life and disability insurance policies are underwritten by Sun Life Assurance Company of Canada (Wellesley Hills, MA) in all states, except New York, under Policy Form Series 93P-LH, 98P-ADD, 01C-LH-PT, 12-GP-01, and 12-DI-C-01. In New York, group life and disability insurance policies are underwritten by Sun Life and Health Insurance Company (U.S.) (Windsor, CT) under Policy Form Series 13-GP-LH-01, 13-LTD-C-01-MGIS, 13-STD-C-01-MGIS, 13-STD-C-01-MGIS, 13-LF-C-01-MGIS. The disability policies provide disability income insurance only. They do NOT provide basic hospital, basic medical, or major medical insurance as defined by the New York State Insurance Department. Benefits may vary; subject to state availability.

Administration for physician products is provided by Medical Group Insurance Services, Inc. (MGIS), in all states, except as follows: in CA by MGIS Insurance Agency, Inc; in NY by MGIS Insurance Agency; in NC by Insurance Administration, Inc., d/b/a MGIS NC. Product offerings may not be available in all states and may vary depending on state laws and regulations.

Nationwide Insurance Company

fs_logo_animWith Nationwide as our partner, physicians get what they expect: Superior financial strength, a premier insurance policy, and expert service and claims teams.

Because we focus on what we do best, physicians can focus on practicing medicine with the confidence that they are backed by the best medical-professional liability policy in the industry.

We partner with Nationwide Insurance® Company with an A.M. Best Rating of A+ (Superior), FSC XV.

Financial Strength

Don’t fight risk with risk.

Insurance policies protect against risk—risks to your medical career and financial well being. But your policy is only as good as the financial strength of the insurance carrier behind it. Trusting a risky carrier to cover your risk is, well, risky.

Cutting through the technical jargon of the rating agencies, in today’s financial world, anything less than an A rating introduces unnecessary risk into your coverage solution. Highly competitive offerings are available from highly rated carriers.

We work with only A-rated carriers to back our specialized insurance solutions.

 

Our track record speaks for itself.

45 years ago we developed a plan to become a leader in providing insurance products to medical professionals.

We’ve been fortunate to work with great employees, partners and clients in building one of the nation’s leading specialized insurance programs for medical professionals, far exceeding our original expectations.

More than 10,000 physician groups, 900,000 group members, and 300,000 physicians nationwide have relied on MIGS for group disability, life, and medical-professional liability insurance throughout our 45 year history of industry leadership in the healthcare sector.

Additionally, our unwavering commitment to brokers and financial planners has earned the loyalty of thousands of successful producers who count on our expertise and market-leading products to exceed the expectations of discerning medical professional clients.

People, Not Policies

There are inherent risks to the practice of medicine. We understand that. We’ve got you covered. Well covered.

But our policyholders are people with families, friends, and lives outside of their professional pursuits. We see the disruption to lives, careers, and finances that unplanned events can have.

It’s especially gratifying to provide the resources that bring financial viability, productivity, and dignity to the lives of dedicated professionals in these situations. Particularly when we’ve had a hand in anticipating challenges and providing the ultimate in coverage and relief for the remainder of their careers.

At the end of the day, we cover people, not risk.

MGIS claims roots that run deep in protecting medical professionals through the continuous evolution of their healthcare world. Over more than 45 years we have endeavored to anticipate each potential threat to income, stability or lifestyle faced by our medical clients, and respond with products and services to fit each unique challenge. The result is a market-leading insurance solution custom-fit to the distinctive needs of medical professionals that is unrivaled in today’s challenging healthcare climate.

In the 1960s, as the trend toward group medical practice accelerated, MGIS founder Dale Brunken discovered that there were relatively few disability insurance options for members of these new groups. By creating coverage custom-fit for physicians and backing it with A rated financial strength and high-touch, white-glove service, he spawned a legacy of leadership and innovation that has been the hallmark of success in this insurance segment.

From that foundation we’ve pioneered with leading industry organizations, insurance carriers, technology innovators and business partners to continue leading with solid, customized solutions that anticipate needs and speak to pressing challenges in unique, affordable ways. Our lines of coverage have expanded to include other risks faced by medical professionals, including medical-professional liability and life and short-term disability offerings.

As we embark on a new chapter of healthcare industry history, MGIS will continue to be at the forefront of understanding, anticipating, and responding to the evolving needs of medical groups. Regardless of group size, form, ownership or function, our commitment to the best protection for medical groups at the best price runs deep in our roots.