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When medical professionals began joining group practices in the 1960s, they only had the option of blanket coverage designed using a one-size-fits-all approach. But this didn’t take into consideration their unique lifestyle, narrow specialization, and higher income levels were they to face a disabling event.
Even still, doctors are shown to become disabled twice as often as other professionals due to the physical nature of their job. Combine this with the significant business risk for anyone who has invested years, if not decades, into building a successful practice that’s founded on a refined set of medical procedures. Given their unique situation, medical practitioners need specialized disability coverage designed exclusively with their earnings and occupation in mind.
Which is why, in 1969, Dale Brunken, who would later establish MGIS, began the work in designing a new insurance product that could better align with the needs of medical professionals migrating to group practice. He then set off to locate an insurer that would back his new product.
Since the launch of Brunken’s specialized insurance product and the company’s inception 50 years ago, MGIS has remained a staple in the insurance market. We’ve built a trusted reputation for providing innovative, customized insurance solutions designed to meet the otherwise unmet needs of doctors. Beyond this, we back that coverage with top rated financial strength.
Now a leading national insurance program manager, MGIS provides unrivaled protection and the high level of customer service doctors expect through our expansive national broker network. And our capabilities have increased through the years to meet a broader range of risk associated with advanced healthcare occupations including our introduction of high-limit disability, group life, and group long-term disability coverage.
We’ve always been broker focused and have a proven track record for growing broker sales, retention, and credibility among medical professionals. With a service model that has centered on our nationwide broker network for decades, we can provide exceptional guidance for marketing and presenting our products while also delivering expert policy and cost analysis to help grow our partner’s business.
MGIS specializes in group long-term disability and is widely regarded for excellence in product design, policy issuance and underwriting, administration, policyholder and billing services, broker management, and end-to-end claims coordination. We offer brokers the security in knowing their service relationship will remain constant regardless of the insurer partner. In turn, insurers gain access to attractive lines of business along with specialized brokers without the associated infrastructure, underwriting, and administrative overhead.
MGIS and its insurer partners have formed winning partnerships, with combined capabilities that align at all levels to best serve brokers and address the insurance needs of doctors.
As an insurance program manager, MGIS offers insurers access to attractive lines of business, specialized infrastructure, and the support needed to maintain profitable and lasting programs. This includes our doctor-disability-specific underwriting, billing, and client service infrastructure along with an expert sales team focused solely on its doctor-disability insurance lines. Lloyds brings its vast expertise acquired through centuries and backed by diverse global capital and excellent financial ratings.
It’s a winning combination*. In fact, insurance programs managed by firms like MGIS have been shown to be even more profitable and grow faster than those through commercial insurers. Insurance program managers are part of a growing business within the insurance industry now producing and managing as much as $42 billion in premium. Together MGIS, Reliance Matrix, and Lloyds provide superior strength, focus, and long-term stability to help brokers better serve their doctor-disability income-replacement lines of business.
MGIS is proud to have served thousands of doctors in all group sizes nationwide thanks to our collaborative partnerships with brokers and insurers.
We’re excited to carry our decades-long legacy forward, driven by executive and broker leadership who bring advanced industry expertise. We offer the foresight to anticipate income protection and specialized insurance needs while helping partners adapt within a constantly evolving healthcare environment—delivering not only the right amount but also the right type of insurance coverage.
* Conning, “Managing General Agents, TheFounded in 1969, MGIS is a leading national insurance program manager offering income-protection and other specialized products expressly designed for doctors. We work through select brokers nationwide, building and managing insurance programs that take into consideration the policyholder’s lifestyle, higher income level, practice specialty, and professional standing.
According to a national report from AMA Insurance, 77% of U.S. physicians say disability insurance is “essential” vs. “nice to have” or “optional,” and 60% of physicians reported knowing of a physician who suffered a disabling accident or injury. 1 Yet a high percentage are unaware that their specialized insurance needs are largely ignored by traditional benefits policies.
The MGIS product line delivers the elevated level of disability income-replacement protection needed within all medical groups, regardless of size or practice type. And we’re the only insurance organization in the country to offer our policyholders both the right amount and the right type of income protection.
MGIS coverage solutions are backed by top rated insurance carriers including Reliance Matrix and Certain Underwriters at Lloyd’s of London to deliver the highest level of financial strength and consistency attainable. We focus exclusively on disability income-replacement and select specialty insurance coverages for medical practices of all sizes and types.
Services are provided by the following MGIS affiliated companies: The MGIS Companies, Inc., Medical Group Insurance Services, Inc. (DBA as MGIS Insurance Agency in CA and in NY), and MGIS Underwriting Managers, Inc. (DBA as MGIS Professional Insurance Solutions in CA and MGIS Underwriting Agency in NY).
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