Welcome to another episode of Perspective First, where A&M
experts explore the latest trends and developments in the financial
services sector.
In this episode, A&M host David Carey speaks with guest Dan
Grayzel, Head of Corporate Development and Strategy at Ascendex, on
what it takes to build a Managing General Underwriter (MGU) from
the ground up and how to launch in today's market.
Key Points:
- The ultimate challenge is that starting an MGU is a blank state and there is hardly any legacy to follow
- There are multiple phases to consider and plan:
- Designing and building:
- Must define your strategy blueprint, detailed business plans and requirements, financial models, and prospective timelines
- Program strategy is key, especially around underwriting
- Must be flexible and iterative – how do you build and expand your offering verticals while focusing on margarin and operating targets, EBIDTA, expense base, and technology and scale of requirements
- Technology – do not stray from speed to market, data analytics, underwriting intelligence, claims insights, and end-to-end efficiencies
- Designing and building:
- Launching:
- Ensure that your program strategy, people, and technology is sustainable to long-term value to market
- Present your MGU as a business case so that there is belief and backing of what you are launching
- Obtain capacity from the general markets
- The important role of partnerships to ensure success
Listen to the full episode now.
Originally published on 11 September 2025.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
